juraj on Nostr: I updated my article about scaling Lightning using Liquid to match the chapter from ...
I updated my article about scaling Lightning using Liquid to match the chapter from the newly published book: The Orange Flash of Freedom: Understanding and using the Bitcoin Lightning network.
The main idea is that you can expand Lightning beyond just on-chain backed channels. There are already ideas about e-cash backed channels, they can theoretically even be used for routing. What not many people get is that you can use these as part of the payment path and even bridge trustlessly.
I propose opening channels on Liquid everytime a user would be otherwise priced-out to a custodial solution and open real (bitcoin-time-chain-backed) channel when amount is high enough and/or fees are low enough. You can even combine liquid-backed and bitcoin-time-chain backed channels at the same time (even within the same payment!) and the recipient does not care, they receive their coins through their existing channels.
This technology would also bring trustless instant bridging from and to liquid without having to do anything with the liquid federation.
If you have not read this blog and are interested in ⚡️, give it look, if you like it, check out the whole book.
https://juraj.bednar.io/en/blog-en/2023/05/07/expanding-the-lightning-network-to-serve-billions-a-quick-win-strategy/
The main idea is that you can expand Lightning beyond just on-chain backed channels. There are already ideas about e-cash backed channels, they can theoretically even be used for routing. What not many people get is that you can use these as part of the payment path and even bridge trustlessly.
I propose opening channels on Liquid everytime a user would be otherwise priced-out to a custodial solution and open real (bitcoin-time-chain-backed) channel when amount is high enough and/or fees are low enough. You can even combine liquid-backed and bitcoin-time-chain backed channels at the same time (even within the same payment!) and the recipient does not care, they receive their coins through their existing channels.
This technology would also bring trustless instant bridging from and to liquid without having to do anything with the liquid federation.
If you have not read this blog and are interested in ⚡️, give it look, if you like it, check out the whole book.
https://juraj.bednar.io/en/blog-en/2023/05/07/expanding-the-lightning-network-to-serve-billions-a-quick-win-strategy/