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    Author Topic: Lightning network, Bitcoin development and Alts  (Read 1653 times)
    inBitweTrust (OP)
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    March 27, 2015, 02:24:15 PM
     #1

    This thread is one intended to start a conversation about what altcoin developers and users feel about some of the development within the bitcoin space and how it compares to other alts. There are some interesting features and development within many of the altcoins and there is a lot of progress being made within bitcoins but the difference with bitcoin is most of the development is happening at the edges and the core protocol remains simple and robust.

    Thus individuals who download the bitcoin QT (Core) wallet may be disappointing because its not as pretty and doesn't have all the features as other wallets when most of the development is happening in the 20+ other bitcoin wallets. So one "disadvantage" bitcoin has is confusion due to too many options due to too much development where it doesn't have a well integrated wallets that does everything. I.E..  you want privacy - darkwallet, you want security - armory, you want integrated directory and shopping assistance - airbitz, you want decentralized localtrader - mycelium, ect... Other alts have very little choices and development but the wallets are more tightly integrated with all the features found accross multiple wallets in bitcoin.

    So the first question is do you guys agree with the above , yes or no and why?

    What do you guys feel about the lightning network whitepaper?

    https://bt.irlbtc.com/view/970822.0
    http://lightning.network/lightning-network-paper-DRAFT-0.5.pdf
    https://www.youtube.com/watch?v=8zVzw912wPo
    http://lightning.network/lightning-network.pdf
    http://www.coindesk.com/could-the-bitcoin-lightning-network-solve-blockchain-scalability/

    Are there any alts out their designed to handle 45,000 instantly confirming transactions  per second and scale without bloat like bitcoin with the lightning network once the softfork goes through?

    What do you you of Inter-channel payments allowing instant confirmations within bitcoin - http://impulse.is/. Confirmations are already instant with bitcoin if you trust a centralized payment processor , but interchannel payments pave a way for a more distributed trust system.

    Some recent changes made in Bitcoin core 0.10 paved way for pruning. Full nodes that only require 1GB of storage are set to be released in the next version 0.11. What do you guys think about this as it relates to blockchain bloat and decentralization?

    Darkwallet and openbazaar seems to be making slow but steady progress to solve the decentralization issues and privacy concerns. What do you specifically think about these advancements in relation to other alts?

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