Experts said: Lightning Network can be bitcoin expansion, but in the face of large transactions will be “planted”!

The lightning network is the most expensive bitcoin expansion solution available today. However, some researchers, based on the Two Economic Model Experiments, concluded that the Lightning Network could be used to deal with some small deals, but users are more inclined to deal with larger deals Choose Other Chain Deals . This is mainly because people are unwilling to pay high transaction fees . Given the market and user acceptance, the Lightning Network still has a long way to go before it can succeed.

Some researchers have studied After that, Bitcoin’s lightning network may fail to meet its expectations . The lightning network, often referred to as the future of bitcoin, has become one of the basic ideas for expanding all public chains through its special shift in payment channels. The Lightning Network, while driving bitcoin blockchain transactions, remains fully robust and cryptographically validated, leaving many developers believe that this is the best way to increase the number of transactions a Bitcoin network can handle. But lightning network pressure still exists. As bitcoin’s argument for its own expansion roadmap has been discontinued, some companies are uncomfortable with the decision, and they are undercover and waiting to see how the lightning network has evolved. Other companies are planning to leave and want to move to a smaller blockchain than other users, making transaction fees cheaper. There are now new studies show that there may be some twists and turns on the way of the lightning network. Specifically, computer science researchers Simina Branzei and Eral Segal-Halevi, along with Aviv Zohar, an assistant professor, have been exploring what the lightning network economy may do.

. This is mainly due to Whether people will actually use it, or just use it for ordinary bitcoin transactions. In this case, Zohar said that while the controversy over bitcoin expansion has focused mainly on technology theory (whether lightning can be achieved), Too much work has not been done on how consumers and businesses will react. He said: “Sometimes people talk about the lightning network as if he has succeeded, and they point out that there are now early applications, as well as lightning The net’s current achievements, but I think its fate will depend in part on economic power.

Trading Competition

In this regard, Zohar and his colleagues are also making some assumptions. They are arguing an overview of a two transactional type that is part of their research but has not yet been recorded in the white paper. The first is the Small Deal , which most people often do, such as buying a cup of coffee on their way to work. The second consists of Larger deals , such as investing in a laptop or a hot air balloon. These purchases are less frequent but still belong to important deals. With these factors in mind, researchers think the Lightning Network will be used for small transactions and those that are securely identified and recorded in the global bitcoin global ledger On-chain transactions will be used for large transactions. In other words, users will choose cheapest way . Therefore, Zohar believes there may be some competition between online flash trading and online trading. It is noteworthy that this is directly related to the limited block size of bitcoin . Now, only enough money is paid to be able to trade on the blockchain, and users (and businesses) are already complaining about being overcharged .


So if there is one type of transaction that is cheaper overall and the other one than the next? Or two types of transactions can co-exist? In other words, how much the lightning network has the price advantage over trading in the chain? The team tried to answer this question through economic experiments. Researchers use the aboveSuppose that built two simple Bitcoin economic models . Zohar said the first model is biased toward the lightning network. Users tend to make small purchases easily in the economic model of lightning networks. He said: “We want to see how many flash internet deals happen, what the transaction amount is, and what percentage of each transaction.”

They found that, in this case, most transactions were conducted using the Lightning Network. In proportion, the lightning network has also made an overwhelming victory. However, About two-thirds of transactions are still traded online as the volume of transactions increases. Zohar said the results of these experiments are a bit “disappointing” as some Bitcoin developers expect the lightning network to replace most of their Bitcoin transactions .

. The second simple model is another example of “extreme.” When each of the deals in the economic model are of the same size and each traded at 1 BTC, see if the user’s choice will change. Zohar said the results of the two models are quite different. Lightning networks can thrive in the first mode, but will be “destroyed” in the second mode because users are more willing to pay the transaction fee on the chain.

p> Well-guessed speculation

However, the model is not realistic and can only aid in guessing the results. Researchers can not take into account many variables in the model, Such as different people’s spending habits. However, Zohar said: “I have to say that lightning network can not be a huge success within 10 years.”

Perhaps a better wallet user experience may someday solve these problems. Just as most internet users do not tweet about whether their tweets are distributed over the web, users will not consider how their payments are sent over bitcoin networks. In other words, it is impossible to predict the future. He said: “Our model is not yet mature, so do not overplay the data.” Other lightning network developers have also made similar arguments.

Fabrice Drouin, CTO of ACINQ, a Paris-based lightning company, believes that the study is “very important” The accuracy of early stages is questionable. Drouin said: “The Lightning Network has not been officially launched, so I can not predict how it will be used and what it will actually become, since it’s still There’s no real money involved, so the model can not really help in predicting Bitcoin blockchain deals. “However, Zohar just wanted to think Use this research to set a more appropriate expectation for your lightning network. He said: “The main message we are going to deliver is not the success or failure of lightning, but the economic impact on which payment methods users are more willing to use.” Now, Zohar and other researchers are studying another mode of living between the two “extremes,” and are planning to publish a paper shortly to explain all of their findings .

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