Lightning Network is Actually an ‘Altcoin,’ Edge CEO Says

Lightning Network is Actually an ‘Altcoin,’ Edge CEO Says

The Lightning Network– a second-layer repayment procedure making it possible for immediate deals at practically no expense in between taking part nodes– is really an altcoin, inning accordance with Edge CEO, Paul Puey.

‘ It ’ s among one of the most various altcoins ’-LRB- *********).
According to Edge, a multi-asset blockchain pocketbook and also safety and security system, Lightning Network– a second-layer repayment procedure operating in addition to Bitcoin ’ s blockchain and also making it possible for instant deals– isn ’ t reallythat. Instead, from the firm ’ s perspective, the Lightning Network is an altcoin. (You simply need to alter the meaning.)

Explained Edge ’ s William Swanson in a livestream:

Lightning, from my perspective, is really an altcoin. It ’ s an alternate chain. It ’ s an alternate agreement system that simply occurs to be connected back to Bitcoin. From every perspective– it ’ s obtained various address styles, it ’ s obtained various pocketbooks, it ’ s obtained various method of negotiating, various restrictions, various web servers you attach to– whatever that matters in regards to innovation, it is a various system.

“ Actually, it ’ s among one of the most various altcoins, ” Paul Puey, Edge ’ s CEO, concurred. “ It ’ s as significantly various as feasible. ” ( It ’ s so significantly various, as a matter of fact, one can suggest it ’ s not also an altcoin whatsoever!)

Swanson after that remains to clarify his thinking, which is where points actually begin to obtain doubtful. He specifies:

It has a one-to-one financial secure with the cost of Bitcoin. If I have one bitcoin and also I place that right into a Lightning network, the cost of that Lightning network is going to go up and also down with the cost of bitcoin one-to-one. Monetarily it ’ s really the very same. Technically, it ’ s a totally various coin.

Skeptical? You ’ re not the just one.

‘ Wen moon?! ’-LRB- *********).
After the livestream finished, kept in mind XRP and also Bitcoin Cash advocate Tiffany Hayden welcomed responses on Twitter– which was without delay obtained by some significant numbers in the cryptocurrency room.

Lightning Network designer Elizabeth Stark kept in mindthat “ various repayment approaches put on ’ t indicate various money, ” and also reasoned that comparing the second-layer remedy to an altcoin is no various compared to calling one ’ s USD examining account an altcoin to one ’ s interest-bearing accounts, or calling one ’ s USD debit card an altcoin to one ’ s bank card.

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