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Lightning is not decentralised. You have up keep your node online 24/7 to prevent theft. Most people can't do that. So they will end up keeping their coins in t
by zapdrive 5y ago
Lightning is not decentralised. You have up keep your node online 24/7 to prevent theft. Most people can't do that. So they will end up keeping their coins in the custody of nodes that run 24/7. Leading to centralisation. Lightning is just like a MySQL database extra steps.
- crazypython 5y agoI read that you put a "bounty" in your transaction so that if your node is offline, another node will have an incentive to prevent the theft for you.
- marcinjachymiak 5y agoYou don't have to be on exactly 24/7. The default delay for spending coins from a commitment txn is 144 blocks in some clients and is usually scaled with channel size. Most clients let you configure it manually too. That means you'd have to be online once within 24 hours of your counterparty trying to steal your channel balance to stop them. IMO this is pretty reasonable for a cellphone user. It doesn't follow that this would lead to centralization of custody either. If you want to pay for better liveness you could pay someone to run a watchtower to watch your channels. Basically, it watches the blockchain for bad channel closes and posts the justice txn with the correct settlement for you in case it sees it. I'd be surprised if a service like LN_Strike didn't start using these. https://github.com/lightningnetwork/lnd/blob/master/docs/watchtower.md https://github.com/lightningnetwork/lnd/blob/master/docs/wat...