Some say that the Lightning Network is centralized, but from my point of view, it's still a decentralized solution to scale Bitcoin as anyone would be able to run a Lightning node at will. The huge advantages that it provides for Bitcoin such as dirt-cheap fees, and instant transactions would be too hard to ignore to implement in the future.
However, if the Lightning Network turns out to become a centralized solution for Bitcoin (like many claims it will), then it would be doomed as only those with a lot of wealth and power would be able to participate in this ecosystem.
What are your thoughts about this? Is Lightning really centralized? Or Decentralized?
However, if the Lightning Network turns out to become a centralized solution for Bitcoin (like many claims it will), then it would be doomed as only those with a lot of wealth and power would be able to participate in this ecosystem.
What are your thoughts about this? Is Lightning really centralized? Or Decentralized?
The "centralization" that most people talk about is really about limiting who can effectively (and profitably) participate. Lightning Network channels will naturally tend to form along the paths of economic activity. If you assume (as I do) that most economic activity in Bitcoin today is from individuals to large Bitcoin businesses (mostly exchanges), then you should further assume that most channels will be between users and those very same large businesses.
You can call the centralization if you wish---but it is not a centralization of Lightning's making; it is a centralization that already exists for Bitcoin users.