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Blockchain should be transparent and be able to register all transactions. If LN allows off-chain small transactions for performance purpose, fine, but how to ensure transparency ?
I disagree with this. Bitcoin should be private and fungible, and Lightning offers significant privacy improvements. It is a plus.
To add to that: Anyone who wants to continue sending transparent Bitcoin transactions can do so by staying on-chain. Anyone who wants to remain private would currently either use a tumbler or not use Bitcoin to begin with. In other words, neither transparency nor privacy can be forced by an outside party, regardless of LN's existence.
Either way, I'd also argue that cryptocurrencies should stay private, where possible. The way I see it the main reason for transaction transparency is to ensure that the money supply is not manipulated. If we can ensure the integrity of Bitcoin's money supply without depending on transparency I see little reason not to do so.
I feel that there shouldn't be optional privacy with a currency, and therefore is the hole in the whole lightning network plan. If you want the end result for having Bitcoin to be fungible then you need to have every single transaction to not have the ability to be traced which ultimately leads to coins being "tainted" and viewed to be dirty and not accepted at exchanges.
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I might not understand well the final process of registration of the balance sheet on the blockchchain, will it show all transactions between Alice and Bob ?
So many questions
Thanks all.
So many questions
Thanks all.Think of Lightning as going to a bar. You go to the bartender and open a tab. When the bar closes you settle your tab and leave.
Having any form of centralization, which would be the bartender in this case, that needs to verify settlement of the ledger then I have issues...
I'm sorry, honestly I'm not really that read up on how LN works because whenever I read about this part that seems to be a form of centralization, my mind doesn't find it interesting anymore. Who would be the "bartender"?