Critics claim ‘buggy’ Bitcoin Lightning Network is slowly dying
Bitcoin’s Lightning Network was supposed to be the key to scaling Bitcoin adoption globally. Its proponents touted cheaper and faster transactions plus an emergent social graph for a new Bitcoin economy. Seemingly magical demonstrations by influencers like Jack Mallers heralded a fulfillment of Bitcoin ’s promise of peer-to-peer electronic cash. With transaction fees so cheap and transactions so instantaneous, Bitcoin ers started buying coffee and groceries over the Lightning Network. The idea was simple: sign a simple smart contract and transact endlessly via ‘bar tab’-type paper contracts, rather than paying an on-chain transaction fee every time. Unfortunately, Lightning usage started to stall in late 2023 and since then, several long-time Lightning believers have renounced their faith. In short, critics believe that the Lightning Network is slowly dying . Dwindling bitcoin capacity The amount of bitcoin that a user of the Lightning Network can access by joining...