Peter Todd Advises Caution Over Lightning Network

Peter Todd, Bitcoin Core developer has delivered an honest review of the Lightening Network, adding that it is technically insufficient in its current state.

he noted on Twitter this Monday that “Initial impressions of Lightning on testnet: c-lightning segfaults a lot, and when it’s not crashing payments fail more often than not. Writing it in a notoriously dangerous language – doesn’t strike me as a good idea,”

“Since its mainnet debut at the start of the year, the Lightning Network has grown rapidly, but cryptocurrency experts and developers remain divided over whether the technology is ready for use at all.” noted reports.

“The most hotly awaited of the so-called ‘Layer 2’ Bitcoin network improvements, Lightning promises near-zero transaction fees and confirmation times.” continued the report.

This month, Microsoft threw its weight behind the project, pledging support for it as an off-chain Bitcoin scaling solution while pouring cold water over on-chain solutions such as block size increases.

However, speaking in technical terms, the experimental state of Lightning remains obvious. Figures including Bitcoin.org creator Cobra preceded Todd in voicing doubts about a consumer rollout given the untested nature of many of its features. The result, both say, could be lost funds.

“As for the Lightning protocol, I’m willing to predict it’ll prove to be vulnerable to DoS attacks in it’s (sic) current incarnation, both at the P2P and blockchain level,” Todd meanwhile predicted.

Lightning has also faced caution from Andreas Antonopoulos, who despite championing its technological promise saw regulatory woes forcing major cryptocurrency exchanges to avoid offering it.

This week meanwhile also saw Bitcoin Core release version 0.16.0, a major milestone incorporating full support for SegWit scaling improvements, itself a useful foundation for allowing Layer 2 solutions to spread.