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On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that … Read more
On Friday, the CEO of Twitter and Square, Jack Dorsey talked about the decentralized exchange Square is constructing called “TBD” or the “TBD BTC DEX.” First mentioned in July, Dorsey tweeted that the company has “determined [TBD’s] direction and he also shared a Twitter thread written by Mike Brock, the TBD lead at Square. Jack … Read more
While bitcoin has run-up to all new price highs in 2020, a great number of crypto supporters have been complaining about the mempool backlog and the high fees needed to send a transaction. Meanwhile, the Lightning Network is far from seeing widespread adoption, and a number of attack vectors have been revealed this year. At … Read more
During the last few days, a number of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain project, also referred to as “Drivenet.” The Drivechain project has been a work in progress for years now, and just recently Sztorc published a new version of the Drivenet software. On June 29, the Bitcoin proponent John Light tweeted … Read more
On January 7, digital preservation researcher David Rosenthal published an overview of BTC’s Lightning Network (LN) which claims LN infrastructure isn’t decentralized and privacy-preservation is a myth. Rosenthal’s analysis found significant flaws with the LN fee system and the editorial insists “in order for Lightning Network to provide privacy, it must be massively over-capitalized.” Also … Read more
Do you remember receiving your first bitcoin? Seeing those satoshis arrive in your wallet is a magical, almost spiritual, experience. In that moment, the most beautiful thing about bitcoin is not its censorship resistance or pseudonymity: it’s that it works at the first time of asking. No pending account verification, no weekend processing delays, and … Read more
A slew of Wikipedia editors would like to delete the Lightning Network (LN) Wiki page because the subject matter does not hold notability. Wikipedia editors use notability as a test to find out if a topic warrants its own article. The LN article debate on Wikipedia is still raging as a few editors believe the … Read more
The Lightning Network has long been touted by its proponents as a speedy, low-cost solution to Bitcoin’s scaling issues. A series of security scares and UX issues have called that vision into question however. The latest LN slip-up saw a user lose 4 BTC in one fell swoop. Also read: Hidden Lightning Network Bug Allowed … Read more
On Friday, crypto analytics site Messari and data analyst Zack Voell shared a controversial chart called “Bitcoin Cash versus Lightning,” which claims to display a comparison of activity for both networks. Voell contended that the Lightning Network was growing at a faster rate than the scaling solution BCH has to offer. The way the chart … Read more
If it wasn’t for Bitcoin there would be no Libra. That much is self-evident, since Satoshi’s creation laid the groundwork for every crypto asset that’s followed. The extent to which Bitcoin was responsible for spawning Facebook’s currency has now been made brutally clear in an interview with Abra’s Bill Barhydt. The investment platform’s CEO claims … Read more
