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Underestimate blockchain at your peril

Underestimate blockchain at your peril

Posted Jan 12, 2018 16:56 UTC (Fri) by nix (subscriber, #2304)
In reply to: Underestimate blockchain at your peril by Garak
Parent article: Welcome to 2018

I haven't paid attention to SegWit but Lightning Network fundamentally doesn't work because it's a network with no mechanism proposed to ensure that routes actually eventually terminate at the intended destination, nor indeed that they won't contain (ruinous) loops, because every routing node has no understanding of anything about the network topology beyond the next link or two. (Also, everyone who wants to be part of a route has to go into debt for howeverlong it might take transactions to clear, which might be forever due to the previous problem). And that's just the *start* of its huge laundry-list of fundamental flaws.

In any case, netting everything up to get around terrible transaction costs and delays is how you get around a broken system, not a way to advertise a system as ready for prime-time.


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