Lightning Network Observer - page 6.

franky1

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Quote from: Wind_FURY on November 26, 2023, 05:41:51 AM

one have any tin-foil hat conspiracy theories why they're leaving? Are dark market entities starting to use the Lightning Network for more privacy?

no need for conspiracy theories.. if you do your research you can find facts, not theories..

WoS does more then just a 'wallet' would. they offer other services too.. so WoS is not just a wallet its a money service business(MSB) also they are a VASP Virtual asset Service Provider

then look at what american regulations wants MSB and VASPs to do

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Although it was observed that WalletOfSatoshi is set to have its record breaking month of processing 1.1 million payments through the Lightning Network, their team has announced that they will be leaving the United States. They didn't give any reason why.

Does anyone have any tin-foil hat conspiracy theories why they're leaving? Are dark market entities starting to use the Lightning Network for more privacy?

cygan

legendary

Activity: 3304

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icarus-cards.eu

with yesterday's update to version 0.6.9-420, the Blixt wallet has added a new feature to its wallet app: the Lightning Box.
the new feature is an ln provider for mobile node like Blixt wallet, letting you receive lightning address payments directly to your phone. the whole thing can also be used for nostr tipping.
the complete changelog as well as the dl-files can be found under the following github link:
https://github.com/hsjoberg/blixt-wallet/releases/tag/v0.6.9-420

fillippone

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Quote from: DooMAD on October 18, 2023, 12:24:10 PM

If it doesn't manage that, then perhaps it'll at least lure some of the ordinals junk away from the base layer. Taproot Assets is a more resource-efficient and elegant approach to handling stuff like NFTs.

Having some DeFi-like instrument in the higher bitcoin layer is the holy grail in crypto.
This would greatly help the Bitcoin adoption, basically making every other alt useless.
Can't wait! Rooting for ~~tgb~~ ~~TaRo~~ Taproot Assets

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

Quote from: DooMAD on October 18, 2023, 12:24:10 PM

If it doesn't manage that, then perhaps it'll at least lure some of the ordinals junk away from the base layer. Taproot Assets is a more resource-efficient and elegant approach to handling stuff like NFTs.

I'm not an Ordinal user, but I remember reading they are files embedded into the chain. Like, a whole image. That ain't an NFT, that's just the definition of inefficient approach to storing files.

I know sane people like us want to do this in the most efficient manner, but apparently, this isn't about efficiency. It's about storing the damn chunk of bytes on-chain, because there appears to be some main layer evaluation. People just want to store files on the main layer, because they know they aren't going anywhere. And it's true; comparably to the off-chain and sidechain solutions, the main layer is the one which cannot be turned down at all.

DooMAD

legendary

Activity: 3948

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Leave no FUD unchallenged

Quote from: cygan on October 18, 2023, 10:25:03 AM

today the first mainnet version of taproot assets was released. with this version (0.3.0-alpha) developers can issue financial assets on chain in a scalable manner.
if you want to know more about the taproot assets and which features the alpha version now offers, you should visit these two links:

Quote

Taproot Assets on Mainnet: A New Era for Bitcoin and Beyond

https://lightning.engineering/posts/2023-10-18-taproot-assets-v0.3/

https://github.com/lightninglabs/taproot-assets/releases/tag/v0.3.0

Hoping for good things. Best case scenario, we'll see some disruption of real-world financial services. So much of traditional finance involves middlemen and this has the potential to replace a fair few of them. If designed properly, there could be some fully decentralised, peer-to-peer financial use-cases that really benefit people.

If it doesn't manage that, then perhaps it'll at least lure some of the ordinals junk away from the base layer. Taproot Assets is a more resource-efficient and elegant approach to handling stuff like NFTs.

cygan

legendary

Activity: 3304

Merit: 8633

icarus-cards.eu

today the first mainnet version of taproot assets was released. with this version (0.3.0-alpha) developers can issue financial assets on chain in a scalable manner.
if you want to know more about the taproot assets and which features the alpha version now offers, you should visit these two links:

Quote

Taproot Assets on Mainnet: A New Era for Bitcoin and Beyond

https://lightning.engineering/posts/2023-10-18-taproot-assets-v0.3/

https://github.com/lightninglabs/taproot-assets/releases/tag/v0.3.0

CryptounityCUT

copper member

Activity: 71

Merit: 16

Very good content; thank you for sharing.

Why does the Lightning Network lead to lower fees?

fillippone

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Quote from: cygan on October 12, 2023, 08:33:29 AM

he team at Blockstream is officially launching their lightning service 'Greenlight' today, which aims to make it more efficient and easier for businesses in particular to manage a lightning node - and non-custodial!

Quote

Greenlight is our scalable, non-custodial Lightning-as-a-Service, or LaaS, solution that offloads the complexities of operating a Lightning node to Blockstream experts while keeping keys in the user's control for greater security. For Lightning developers, this not only reduces the risk and liability of holding user funds but frees up resources that would otherwise go to node operations—so that you can focus on your business and create the best app possible.

https://blog.blockstream.com/greenlight-is-now-open-for-business/

This is a huge improvement in the adoption of Bitcoin, as the complexity of efficiently running a bitcoin node are becoming more and more critical. Channel management, liquidity optimization, and technical reliability are not granted, but the result of a dedicated effort.
In offloading this to an external provider, Blockstream, which is dedicated to this (and has scale economies) LN users can focus on the business case LN is adopted for.

cygan

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Activity: 3304

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icarus-cards.eu

the team at Blockstream is officially launching their lightning service 'Greenlight' today, which aims to make it more efficient and easier for businesses in particular to manage a lightning node - and non-custodial!

Quote

Greenlight is our scalable, non-custodial Lightning-as-a-Service, or LaaS, solution that offloads the complexities of operating a Lightning node to Blockstream experts while keeping keys in the user's control for greater security. For Lightning developers, this not only reduces the risk and liability of holding user funds but frees up resources that would otherwise go to node operations—so that you can focus on your business and create the best app possible.

https://blog.blockstream.com/greenlight-is-now-open-for-business/

JayJuanGee

legendary

Activity: 3948

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: cygan on October 11, 2023, 07:05:58 AM

the lightning network is gaining ground. since 2021, its usage rate has increased by 1212%!!! in august, 6.6 million transactions were completed using it. equal two years earlier it was 'only' 503,000 transactions.
in an october 10th report, River Research analyst Sam Wouters highlighted that the increase in lightning network transactions, which use more than two nodes to facilitate transfers, occurred despite a 44% drop in the price of Bitcoin and significantly less interest in cryptocurrencies overall. you can read the whole report under the link below:

https://river.com/learn/files/river-lightning-report-2023.pdf

That is a very nice, well-written and quite few decent charts and surely good analysis throughout.

There are some places in which they suggest that their data might not be complete.. and perhaps that might be due to differences between public and private channels and some difficulties in measuring private channels - even though ultimately they are asserting that they are directionally correct in terms of lightning network continuing to experience a decent amount of growth - even when there remain some ongoing concerns in reference to custodial versus non-custodial solutions that are in place and still being developed perhaps a bit biased in the custodial direction (meaning through third parties, rather than having more self-custodial options and/or routing).

cygan

legendary

Activity: 3304

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icarus-cards.eu

the lightning network is gaining ground. since 2021, its usage rate has increased by 1212%!!! in august, 6.6 million transactions were completed using it. equal two years earlier it was 'only' 503,000 transactions.
in an october 10th report, River Research analyst Sam Wouters highlighted that the increase in lightning network transactions, which use more than two nodes to facilitate transfers, occurred despite a 44% drop in the price of Bitcoin and significantly less interest in cryptocurrencies overall. you can read the whole report under the link below:

https://river.com/learn/files/river-lightning-report-2023.pdf

fillippone

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Lately node and channel count, and aggregated Bitcoin count has dipped, only to partially recover during the last sessions.
During the ordinal saga, I would have expected numbers go up during this period when base layer was congested.
Any idea about the reasons for this?

cygan

legendary

Activity: 3304

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icarus-cards.eu

yesterday the lnd 0.17 beta version was announced. the new release which again has 30 developers working on it, has among others the following features:

simple taproot channels enabling a lower cost and more private ln
faster neutrino syncs for mobile development
more efficient watchtowers

the complete release notes can be found in the github link: https://github.com/lightningnetwork/lnd/blob/master/docs/release-notes/release-notes-0.17.0.md and a detailed article can be found in the following link: https://lightning.engineering/posts/2023-10-03-lnd-0.17-launch/

BlackHatCoiner

legendary

Activity: 1512

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Farewell, Leo

Quote from: fillippone on September 17, 2023, 03:57:38 AM

The LN nodes are more than BTC nodes.

There aren't more LN nodes than BTC nodes. There are more LN nodes than reachable BTC nodes. That refers to Bitcoin nodes that are listening for incoming connections. But the default setting when setting up a Bitcoin full node is to only accept outgoing connections. Site bitnodes.io estimates there are over 45 thousand Bitcoin nodes in total: https://bitnodes.io/nodes/all/.

That being said, it's also possible that both that estimation and the total LN nodes estimation is inaccurate. It isn't easy to have accuracy on finding the total nodes of completely peer-to-peer networks.

fillippone

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In the Italian board, the user @gbianchi, on his mumblings on the disgraceful ETH network, found a strange evidence:

Quote from: gbianchi on September 16, 2023, 09:40:10 AM

The LN nodes are more than BTC nodes.

How is it possible?

More than one LN node connect to a BTC node?
A public LN node connects to a private BTC node?
Data source is inaccurate?

cygan

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Activity: 3304

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with the (under the name Yvette++) lnbits 0.10.10 release, which has been published today, some bugs have been fixed and a bunch of quality/performance improvements have been made, like e.g.

optional fiat conversion in wallets
cln rest funding source added
...

in addition, there are 4 new contributors who now want to support the 'project' and drive it forward with their knowledge

https://github.com/lnbits/lnbits/releases/tag/0.10.10

cygan

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Quote from: fillippone on August 24, 2023, 06:33:34 AM

Yesterday Blockstream released their updated LN implementation:
✂️

i have already posted the update here: https://bitcointalksearch.org/topic/m.62741236 Wink

and something very important...!
when opening payment channels, there is a vulnerability in ln that can be exploited by a denial-of-service attack.
however, operators of their own lightning node who always update their software to the latest versions need not worry. the vulnerability is already fixed in the following newer versions of various lightning implementations:

lnd 0.16.0
cln 23.02
eclair 0.9.0
ldk 0.0.114

https://morehouse.github.io/lightning/fake-channel-dos/

fillippone

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Yesterday Blockstream released their updated LN implementation:

There is such an amount of new features that they decided to split the description in three separate blog posts:

User Experience: new features users have requested.
Developer Experience: new features and enhancements for developers.
Experimental Features: a look into Lightning’s future by enabling experimental options at runtime.

Second and third update should be published today and tomorrow. I will edit the post when they release them.

cygan

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Quote from: cygan on July 11, 2023, 01:14:30 PM

the PhoenixWallet which allows you to store your Bitcoin on the lightning network itself, has implemented "splicing" in beta and other great features!
✂️

i quote myself here, because as the devs of the Phoenix wallet have announced today, the beta phase with splicing could be successfully completed.
the update will be released in the next few weeks for all android users. ios will follow soon...

https://twitter.com/PhoenixWallet/status/1691798668255297605

Topic: Lightning Network Observer - page 6. (Read 14138 times)