If you could change one thing about the Lightning Network... what would it be? 🤔💡
Discussion
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Easier self custody options plus more transparency for custodial options.
Offline payments
Self-custodial asynchronous payments without the need for users having to worry about channels and liquidity, and without the associated fees of making that happen costing more than on chain transactions in the process.
this hahaha
So Ark?
Who is using it? It’s been around over a year right?
Nobody, it was announced as a concept last year but I think actual implementations haven’t existed until very recently. There aren’t any user ready versions that I know of.
Your proposed changes just sounded exactly like my understanding of the Ark structure.
Ah ok thanks. I need to look into Ark a bit more to understand it. There were some things I didn’t love about it when I heard about it before, such as the ASP taking your funds if you’re not online every few weeks. Granted a custodial LN provider could also take your funds any time, but that would essentially be the end of their business. Assured mutual destruction, so to speak, with custodial LN providers, vs. an ASP basically being pre-authorized to take your funds after what seems like a relatively short period of inactivity.
Increased ease of self-custody
Everyone used it
Unnecessary force closes.
A failed routed payment should not be able to cause forced closures. The lightning payment protocol needs to be revamped so a payment can be reserved througout the route, but the payment can be canceled by any node in the chain to avoid closures, up until the transaction is completed.
Whoever is the cause of a channel closure should pay the close fee for every channel they cause to close.
Not having to decide onboarding or off boarding Layer 2.
Have it seem as one layer
It needs to work even more seamlessly
The inbound/outbound limitations. The networks would be a perfect silver bullet if we were able to send or receive anywhere from 1 sat to 100m sats non-custodial of from the moment a wallet is created 🌱
I will find a way for cold storage.