Lightning Network deals with criticism from pro-XRP legal representative John Deaton

Legal representative and cryptocurrency fan John Deaton has actually slammed the Lightning Network, considering it less reliable than the “Invest The Bits” procedure on the XRP Journal (XRPL). Lightning is a layer-2 scaling service for Bitcoin. It is developed to enhance the scalability and effectiveness of Bitcoin (BTC) deals by making it possible for off-chain, peer-to-peer deals.

In an Oct. 21 X (previously Twitter) post, Deaton exposed he is an angel financier in Invest the Bits, along with its primary legal officer.

Deaton formerly promoted Invest The Bits as an option to Lightning on the Bitcoin blockchain. In September, the pro-XRP (XRP) lawyer applauded the procedure, identifying it as a more safe approach for utilizing your Bitcoin than Lightning.

Let me be clear and transparent: I am now associated with @Spend_The_Bits as an angel financier and function as its Chief Legal Officer. For that reason, please accept my remarks with that in mind. However a significant factor I purchased @Spend_The_Bits, or specified more properly, purchased … https://t.co/aheyTxjGxp

— John E Deaton (@JohnEDeaton1) October 21, 2023

Deaton’s Saturday disclosure was well-timed, lining up with an X post from the online crypto private investigator WhaleWire. This tweet raised issues about a current discovery in Lightning showing a substantial security vulnerability that triggered a designer to withdraw from the task.

The designer declared the existence of intentional vulnerabilities in the Lightning Network’s code, which might possibly supply enemies with total network control. Significant backers of the Lightning Network are likewise associated with Tether, Bitfinex and BlockStream. This claim has actually raised concerns about Lightning’s security and dependability.

Related: Lightning Labs launches Taproot Assets alpha, bringing stablecoins to Bitcoin

At the time of composing, the Lightning Network has a network capability of 5,338 BTC, according to 1ML. This has actually stimulated doubts relating to the network’s durability and long-lasting practicality, with the payment procedure having actually seen a 15% decrease in capability over the previous 3 months.

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