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Calling Lightning a "hack" is like calling TCP a hack of IP. First principles of protocol design literally dictate layered modular stacks. Actual ideas: Bitc
by djschnei 4y ago
Calling Lightning a "hack" is like calling TCP a hack of IP. First principles of protocol design literally dictate layered modular stacks.
Actual ideas:
Bitcoin is layer 1 of the internet of value. It only needs to be secure, decentralized, and stable. It has one job; enforce digital property rights while maintaining the above characteristics (Think the internet layer: IP)
Layer 2 (lightning, liquid, etc) build on top of the secure, decentralized, stable foundation of L1 Bitcoin and create standards/protocols for application/user comms (think the transportation layer: TCP, UDP)
Layer 3 (Strike, TBD, Sphinx, CashApp, etc) applications to fulfill specific use cases built on top of layer 2 (think the application layer: all the things you do on the internet)