Post
Topic
Board Bitcoin Discussion
Merits 5 from 1 user
Re: Is the Lightning Network centralized?
by
Wind_FURY
on 27/04/2018, 06:03:06 UTC
⭐ Merited by ebliever (5)

Are you trying to make up something to spread FUD? Did you bother to take some time to read and understand how LN works?

But please explain. How did you come to the conclusion that "only those with a lot of wealth and power would be able to participate in the Lightning Network". Let's see if you yourself understood what you have posted.

I'm not trying to spread FUD here but just saying what I believe that it would happen in the future. As more channels are opened simultaneously, fees on the main network could rise up to a point where only wealthy people could open them. As such, Bitcoin would also need to increase its blocksize to prevent fees from rising after many requests for opening channels (as a transaction would be made on the main chain to open a channel).

I believe Adam Back said that increasing the block size is already an absolute for the future of the network. But what Bitcoin Core will not do is to increase the block size to satisfy some group's political agenda.

Quote
At least, that's how I see it, although I could be wrong. If fees stay at the minimum on the main chain, then there's no doubt that the anyone would be able to open channels within the Lightning Network at will. Smiley

Everything is ok so far with Lightning Nodes surpassing Bitcoin Cash nodes in number. Hahaha.