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September 16, 2015, 05:28:15 AM |
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In studying the implications of lighting networks, it quickly becomes apparent that they may be just as revolutionary as basic Bitcoin transactions themselves.
If you view Bitcoin as a censorship resistant global settlement service, then it is logical to build systems that only go to settlement in the case of disagreement.
In the future, I forsee the the Bitcoin network layer 0 will only be used in the cases of fowl play (for adjudication), and public audibility (such as proof of reserves).
The future general case will be where transactions never even touch the Bitcoin network.
Thus it is logical that optimising for scale over security for the layer 0 network is completely foolish. The later 0 network will gain it's value from being exceptionally secure.
Do you take the fact that the clerk at the the corner store failed to give you the correct change to the highest court in the land?
- Well, no, in general this is not necessary. However if all other forms of justice fail, there should be an avenue to take the dispute for final adjudication.
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