TALKING HEADS: Do You Contemplate The Lightning Community A Proof-Of-Stake System?

 TALKING HEADS: Do You Contemplate The Lightning Community A Proof-Of-Stake System?


It’s time to seek out out what the protagonists must say. In TALKING HEADS, Bitcoinist will ask the consultants concerning the cryptoverse’s overarching themes and newest information. This time, we’ve got an all-star forged that’s as numerous because the instances we’re residing in. Put together to have your thoughts electrified by these speaking heads’ concepts and reasoning.

Associated Studying | That JPMorgan Report On El Salvador Doesn’t Even Point out The Lightning Community

Immediately’s theme is the Lightning Community. The concept it is likely to be a Proof-Of-Stake system comes from one of many unique Bitcoin luminaries, Andreas Antonopoulos. “This speak happened on March twenty ninth 2016 on the Blockchain Meetup in Berlin, Germany,” and Andreas blew everybody’s thoughts when he stated that Bitcoin would have a PoW and PoS hybrid system, as a result of The Lightning Community is…

TALKING HEADS Weights In

There’s one thing to the Proof-Of-Stake thought. To supply liquidity to The Lightning Community, nodes must stake Bitcoin. And the scale of that Whole Worth Locked in a node impacts what it might probably do and who can it transact with. And it generates charges. Your locked stake generates cash, similar to in a PoS system. 

Nevertheless, Antonopoulos may’ve been unsuitable on this one. To begin with, no consensus is important within the Lightning Community. Secondly, the Lightning Community doesn’t subject cash. Lastly, a medium node can compete with a big node, particularly if it’s properly managed. 

However, that’s introduction sufficient. Let’s minimize to the chase and skim what our celebrity visitors must say concerning the topic. 

BTC value chart for 11/23/2021 on Bitstamp | Supply: BTC/USD on TradingView.com

“Lightning is a layer 2 that’s created on a PoW and carried out on a PoW, I wouldn’t classify it as both a PoS or a PoW. The analogy I might use is extra of an connected fee system that’s constructed on high of the prevailing Bitcoin community, much like an aggregator.”

– Norelle Ng

Tim Behrsin – Founder and CEO at Grexie

“Proponents of the Lightning Community may argue that since validators stake Bitcoin to supply liquidity to transactions that occur between customers, that it’s a Proof of Stake system. Nevertheless there isn’t a proof that occurs, the proof is offered by the Layer 1 Bitcoin protocol, and the Lightning Community is merely a match maker between liquidity suppliers and spender-receiver channels. Proof of Stake programs use a mechanism to attain consensus amongst a community of validators,  through which charges are allotted for performing proofs of the community’s validity and safety, reasonably than a medium of trade, as within the case of Lightning Community.”

-Tim Behrsin

“Sure, Lightning is a Proof-Of-Stake system, but it surely redefines its which means as a result of not like different stake programs the place you simply depart your crypto stationary, in Lightning it is determined by the effectivity of the channels you open, your price coverage, the supply of your {hardware} and the enterprise mannequin you identify in your node. It’s arduous to achieve the break-even level, but it surely affords numerous new monetization prospects that we’re nonetheless discovering.”

– Fernando Motolese

Luis Molina, Co-Founding father of Superalgos

“Lighting Community shouldn’t be a Proof-Of-Stake protocol as a result of it isn’t a category of Consensus Mechanism for blockchains, which is what Proof of Stake is.  In actual fact, the Lighting Community shouldn’t be a blockchain in any respect, however reasonably a Layer 2 fee protocol constructed on high of 1.  Despite the fact that the Lighting Community has the idea of Cost Channels that must be funded, their objective is to facilitate funds between community customers reasonably than to attain consensus.”

– Luis Molina

And people are all of the enlightening opinions that we’ve got for you at the moment. Bitcoinist immensely appreciates our visitors’ time and information. The TALKING HEADS part wouldn’t be doable with out them. 

Associated Studying | BTC + The Lightning Community’s Power Consumption Vs. The World, A Comparability

Earlier than we go, let’s begin a brand new custom. We’re closing this part with a Speaking Heads tune. 

Speaking Heads, “And She Was”

This one’s from “Little Creatures,” the band’s 1985 album.

Featured Picture: TALKING HEADS brand, based mostly on a ThomasWolter picture | Charts by TradingView



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