CoinCorner responds to criticism of the Bitcoin Lightning Network

CoinCorner responds to criticism of the Bitcoin Lightning Network
05.09.2019 10:50 am

CoinCorner responds to criticism of the Bitcoin Lightning Network

Bitcoins

CoinCorner’s CEO, Danny Scott, commented:                                     

“The Bitcoin Lightning Network is such an amazing and innovative step forward for the development of Bitcoin, making it useful for every day payments at mass scale.

Lightning is a new piece of Layer 2 technology sat on top of Bitcoin. It’s only been running on a live environment for the last 18 months and is still in beta stages, meaning that bugs and exploits are to be expected - people shouldn’t be scared by these issues being found at the early stages. 

Every piece of technology has bugs and exploits. For example, think of all the Windows updates your computer regularly downloads and installs. A large portion of these are typically for security vulnerabilities, with some so extreme that they can allow remote control of your computer. But, people don’t worry about these as they have just become a part of the way the world works. 

CoinCorner’s tech team has been researching the Lightning Network for some time now and we’re slowly introducing it into our systems. We hope to be releasing our Lightning wallet and Lightning payment gateway in the coming months”. 

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