GM 🧡⚡
Regardless of my thoughts on ARK (still learning), I must say it's very refreshing to see people coming round to the idea that Lightning may not be THE scaling solution.
Discussion
What are other solutions?
There's on chain stuff like Taproot adoption that is live but not well adopted yet. There's also things like RGB which again aren't being adopted.
Then there are future hypothetical solutions like Cross Input Sig Agg, CTV and channel factories and splicing.
All come with their own unique hurdles and set of tradeoffs.
I wouldn’t consider taproot and CISA scaling solutions, more just using on-chain space more efficiently and more privately.
in order to be effective, scaling solutions can’t be bounded by the block weight limit.
covenants seem the most promising step forward for enabling more off-chain scaling protocols (ARK, eltoo, etc), while also enabling more use cases on-chain
I wish any of this made sense to me 🤦🏼♀️
pretty technical, but this is a great resource for an overview of how bitcoin and lightning work: https://chaincode.gitbook.io/seminars/
it’s structured as a syllabus which you can go through at your own pace
Thanks 💕
See where you're coming from, but anything that allows for more tx throughput either directly or indirectly, helps bitcoin scale.
haha i think we are getting into semantics, but i respectfully disagree.
let’s say every tx was taproot and we had CISA - we’d get something like 13k txs per block, maybe 20k if we specially constructed them to be as small as possible. that means 13k txs every 10 mins is all you can do on-chain. anything that has a hard limit that you will likely hit is not a scaling solution.
off-chain stuff doesn’t really have a limit tho on the number of txs that can happen per a single on-chain tx (or that’s true for lightning, not sure about ARK), which is why these are scaling solutions
Yeah agreed we probably are.
Both 'scale' but with drastically different results and they all have their on chain limits, even LN.
Trying to remember the stat now about onboarding the globe to LN requiring 100% block space for ~8 years? Obviously not a real scenario but demonstrates its limitations 😅
right, but that stat is for “onboarding.” once you have LN channels open, there is no upper bound on how many txs can be processed in the channel, which is what makes it a scaling solution.
taproot and CISA would allow for more efficient and private opening of LN channels, which should help with that onboarding number, but i agree that channel management is a huge drawback for LN.
supposedly ARK uses way less chainspace. it would be really nice to see some code and a PoC implementation 😁
Likewise!
I remain sceptical about who's going to run an ASP. Any entity of size will quickly become a target for regulators. Guess you could say the same for LSPs too.
Agreed. Lightning has been great so far. I welcome the many competing platforms now. Let’s find the best one(s) that can scale.
Why isn't. A couple countries are scaling with lightning network..
...at the cost of self custody.
Thanks Ben, was going to say the same thing. That ain't scaling!
Yes. Competition between different vertical scaling solutions (like lightning vs ARK) is much more constructive and useful than competition between horisontal scaling solutions (bitcoin vs. altcoins).