Posted by Antoine Riard
May 17, 2020/03:37 UTC
The discussion revolves around the potential economic weight of nodes in evaluating miner consensus-hijack success and the hope that Lightning will replace centralized custodial services. The scalability advantage of Lightning lies in its ability to transfer to any Lightning client without touching the blockchain, for much reduced transfer fees while retaining noncustodiality. In a Lightning future with massive SPV, it may end up with more economic weight in SPV nodes than in the world without Lightning and dependent on centralized custodial services to scale. To strengthen SPV, backup nodes must be picked up manually at client initialization, before any risk of conflict to avoid Reddit-style hijack during contentious periods or other massive social engineering. Publicly-facing backup servers should be incentivized to exist, and privately-owned servers could work if everyone runs them. A combination of UX, user education, and fallback security mechanisms can help avoid economy hijack.
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