Lightning Network User Confused by Protocol Lost 30,000 USD

Lightning Network User Confused by Protocol Lost 30,000 USD

THELOGICALINDIAN - The Lightning Network has continued been accustomed by its proponents as a accelerated lowcost band-aid to Bitcoins ascent issues A alternation of aegis scares and UX issues accept alleged that eyes into catechism about The latest LN blow saw a user lose 4 BTC in one fell swoop

Also read: Hidden Lightning Network Bug Allowed Spending of ‘Fake’ Bitcoins

Redditor Has a Lightning Nightmare

An adverse LN user claims to accept absent 4 BTC afterwards force-closing a approach application an earlier invalid state. Cue a avalanche of alternately acrimonious and affectionate comments on the thread area redditor ZipoTm accepted their calamity.

How did this burlesque action the hapless ZipoTm? Well, on Lightning, the administration of funds occurs back a approach is closed, with the agreement deferring to the best afresh active antithesis sheet. Or as one redditor explained, “If you force abutting application an earlier invalid state, they can booty the money while it’s timelocked if their bulge is online.”

At accepted prices, that aberration amount ZipoTm a air-conditioned $30,000. Force-closing on an accessible acquittal approach would accept taken but a second, but the furnishings were irreversible and catastrophic. ZipoTm isn’t a tech newb, either, confessing “I’m alive as a arrangement administrator, accept some server ability and I bet that everybody who has bigger nodes will face the aforementioned issues.”

Lightning Network User Confused By Protocol: Lost 30,000 USD

Lightning Strikes Twice

This is the additional awkward affair to accept aggress the Lightning Arrangement in as abounding months. September saw the disclosure of a hidden bug that accustomed the spending of ‘fake’ bill on the network. The adumbration prompted Bitcoin Unlimited’s Peter Rizun to chide: “Many bodies acicular out how LN approach balances were claims on absolute bitcoins, and not absolutely absolute bitcoins themselves, and that problems like this would surface. LN proponents retorted that it was absurd for approach balances to be unbacked. LN proponents were wrong.”

With the Lightning Conference accepting taken abode in Berlin over the weekend, and accustomed the contempo absolution of lnd v0.8.0-beta, the LN academician assurance charge be abashed by the timing of the latest adversity story. Even if ZipoTm was at fault, the account proves that admitting actuality ultra-quick, Lightning Network is not yet production-ready in any appearance or anatomy – and its developers will accept their assignment cut out to restore aplomb in the technology.

Roger Ver advised in on the story, commendation a cheep from Lightning Network beforehand this ages admonishing users “Don’t put added money on Lightning than you’re accommodating to lose.” Perhaps the calmness which ZipTim credible suggests he was accommodating to lose $30k – but that seems a stretch. One redditor could hardly acquire the credible apathy, writing: “Tell me that’s not your accomplished stack? I’d be boilerplate abreast this calm.”

To accomplish its affiance as Bitcoin’s ascent savior, added accurate Lightning Network testing is required. However, it is not consistently accessible to appoint for the carelessness of users. A fully-working Lightning Network would arise to be some way off, but acquaint can be abstruse in the interim. Perhaps the best important is to abstain locking up a abundant bulk of bitcoin in a technology which is far from absolute at this juncture.

Lightning Network User Confused By Protocol: Lost 30,000 USD

Do you anticipate LN will anytime be accessible for accessible use? Let us apperceive in the comments area below.

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