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Lightning network is mostly dead. Someone should do this but for the thriving L2 ETH ecosystem.

by dinobones 2y ago

RustyRussell 2y ago
This does not seem accurate, but perhaps I'm too close to see it? Do you have a source for this?
- dinobones 2y ago
  Uhh.. how about the fact that almost no wallets/exchanges/no one uses it? https://www.reddit.com/r/lightningnetwork/comments/190orn6/comment/kgs56on/ https://www.reddit.com/r/lightningnetwork/comments/190orn6/c... There are a ton of outstanding technical issues that lightning has had that have just kind of been glossed over for the past half-decade because people start companies, raise funding, build small fortunes and their success is predicated on pretending those fundamental technical issues don't exist. Don't get me wrong, L2 has its own set of technical issues. The complexity of L2 is high, and some of the currently popular L2 chains are not decentralized at all. But it has much higher usage and popularity than Lightning, and is being pushed forward strongly by the Ethereum Foundation itself.
  - RustyRussell 2y ago
    That's a long stretch from "why aren't we seeing more adoption" to your assertion that "no wallets/exchanges/no one uses it"? Because payments happen been pairs, there's no easy count of activity. The best estimates I know of are things like https://blog.river.com/the-lightning-network-in-2023/ https://blog.river.com/the-lightning-network-in-2023/ which is almost 12 months old. As to "no wallets support it", that's a strange thing to say, since lightning wallets support it, obviously. I'm yet to see any comparable statistics in L2s on Ethereum? Was hoping you'd have something there, too :(
    - kylebenzle 2y ago
      What a transparent attempt to promote a broken and dying project for your own benefit:(
- kylebenzle 2y ago
  Do you just spend your time in HN to spread lies, propaganda and misinformation about LN, lol? Lightening Labs, or whatever company owns, Lightning Network, should be able to pay for better quality shills I would think. Shame on a CEO like Elizabeth Stark for using poor innocent flobs like you to do their dirty work.
  - janandonly 2y ago
    There are multiple companies building Lightning software like Wallets, serversoftware and SDK’s. Lightning Labs is one of those companies, but they don’t own the protocol. For example, https://acinq.co/ https://acinq.co/, makes the Phoenix Wallet and Phoenixd, a node implementation that you can also run for yourself.
hoistbypetard 2y ago
Source? It seems to be doing well (along with "podcasting 2.0") for some (not-crypto-related) podcasts I'm listening to.
constantlm 2y ago
Actually, while amount of nodes have not grown, capacity of lightning has steadily been growing. https://bitcoinvisuals.com/lightning https://bitcoinvisuals.com/lightning
janandonly 2y ago
You are trolling, right ?
sali0 2y ago
Setting aside personal opinions, I think the protocol is useful but should be able to encompass any payment system/blockchain thru a completely neutral and agnostic interface.

Lightning network is mostly dead. Someone should do this but for the thriving L2 ETH ecosystem.

RustyRussell 2y ago

This does not seem accurate, but perhaps I'm too close to see it? Do you have a source for this?

dinobones 2y ago
Uhh.. how about the fact that almost no wallets/exchanges/no one uses it? https://www.reddit.com/r/lightningnetwork/comments/190orn6/comment/kgs56on/ https://www.reddit.com/r/lightningnetwork/comments/190orn6/c... There are a ton of outstanding technical issues that lightning has had that have just kind of been glossed over for the past half-decade because people start companies, raise funding, build small fortunes and their success is predicated on pretending those fundamental technical issues don't exist. Don't get me wrong, L2 has its own set of technical issues. The complexity of L2 is high, and some of the currently popular L2 chains are not decentralized at all. But it has much higher usage and popularity than Lightning, and is being pushed forward strongly by the Ethereum Foundation itself.
- RustyRussell 2y ago
  That's a long stretch from "why aren't we seeing more adoption" to your assertion that "no wallets/exchanges/no one uses it"? Because payments happen been pairs, there's no easy count of activity. The best estimates I know of are things like https://blog.river.com/the-lightning-network-in-2023/ https://blog.river.com/the-lightning-network-in-2023/ which is almost 12 months old. As to "no wallets support it", that's a strange thing to say, since lightning wallets support it, obviously. I'm yet to see any comparable statistics in L2s on Ethereum? Was hoping you'd have something there, too :(
  - kylebenzle 2y ago
    What a transparent attempt to promote a broken and dying project for your own benefit:(
kylebenzle 2y ago
Do you just spend your time in HN to spread lies, propaganda and misinformation about LN, lol? Lightening Labs, or whatever company owns, Lightning Network, should be able to pay for better quality shills I would think. Shame on a CEO like Elizabeth Stark for using poor innocent flobs like you to do their dirty work.
- janandonly 2y ago
  There are multiple companies building Lightning software like Wallets, serversoftware and SDK’s. Lightning Labs is one of those companies, but they don’t own the protocol. For example, https://acinq.co/ https://acinq.co/, makes the Phoenix Wallet and Phoenixd, a node implementation that you can also run for yourself.

hoistbypetard 2y ago

Source? It seems to be doing well (along with "podcasting 2.0") for some (not-crypto-related) podcasts I'm listening to.

constantlm 2y ago

Actually, while amount of nodes have not grown, capacity of lightning has steadily been growing. https://bitcoinvisuals.com/lightning https://bitcoinvisuals.com/lightning

janandonly 2y ago

You are trolling, right ?

sali0 2y ago

Setting aside personal opinions, I think the protocol is useful but should be able to encompass any payment system/blockchain thru a completely neutral and agnostic interface.