Will we one day be able to develop a blockchain as robust, as efficient as Bitcoin (BTC)? However, this performance goes hand in hand with transaction fees which can be high (compared to other cryptos). Vitalik Buterin had criticized Bitcoin for its supposedly high transaction fees, what about Ethereum gas (ETH) today? The Lightning Network is certainly fast, free of charge, but it brings its share of misadventures …
Vulnerabilities updated, update needed
The manager of Lightning Labs, Conner Fromknecht, revealed in a tweet on October 9, 2020 that vulnerabilities had been discovered on the network Lightning Network.
However, few details are available on the exact nature of these vulnerabilities, Fromknecht indicates that additional information will be released on October 20, 2020.
These vulnerabilities concern versions of nodes 0.10.x and earlier versions of the Lightning Network Daemon (LND).
The team of Lightning Labs therefore advises users to upgrade as soon as possible to the latest updated version, 0.11.0.
There is no evidence to date that these vulnerabilities have been exploited by malicious users.
It’s a quick one: it doesn’t have to be a compliment!
Several developers have indicated that the Lightning Network is only in the experimental stage. This is certainly not the last time that the network will exhibit this type of vulnerability.
And despite the possibilities offered by the Lightning Network, these vulnerabilities could well endanger its sustainability.
The Lightning Network allows transactions to be carried out BTC faster but unfortunately at the expense of network security.
Another flaw inherent in the network was discovered by 2 researchers fromIsrael Hebrew University, Jona harris and Aviv Zohar, in June 2020.
This discovery was made public in a research report entitled ” A systemic attack on the Lightning Network “.
The two researchers had specified that this type of attack could not be avoided without major modifications.
In 2019, the technical director of Lightning Labs, Olaoluwa Osuntokun, revealed that some flaws would have been exploited on a large scale.
The next blockchain capable of defying Bitcoin will have to offer at least the same performance in terms of security, regulation of supply in a deflationary logic, decentralization level, and a little more. In the meantime, the latter is not waiting for its competitors and continues to progress, notably with its Layer-2 Lightning Network! This misadventure will serve to further strengthen the network in the days and weeks to come.
Litecoin, welcome in the Silver Age