26 exchanges support Lightning (Kraken, Bitfinex, Bitstamp) with Robinhood announcing an integration and Paxful too
David Markus (previous head of Facebook's Libra/Diem project) founded and raised a Series A for a new Lightning infra company Lightspark
Lightning Labs raised $70M for a series B; OpenNode raised a series A
With just $100M locked in, it pales in comparison with Ethereum's billion dollar L2s. But Coinbase admits that lightning activity is more indicative of real world utility when compared to the speculative activity driving growth on these smart contract platforms
Hurdles: lack of developer tooling, demand for payment use cases, regulation; Lightning is still cumbersome for new users and merchants
https://archive.ph/9aRW6
Coinbase missed the fact that miners are paid security. Who are they paid by? Full nodes, aka users who can accept or reject the work of miners based on the rules they run on their full nodes.
Posted August 2022. Some key things I caught from it:
I think Lightning is a disrupter in more ways than just payments. Obviously, payments are huge however here are some of my thoughts on subjects https://medium.com/coinmonks/nfts-are-nifty-but-a-bitcoin-nft-is-a-game-changer-8dd62eb1b4d
See also an earlier post which shared a Tweet from an author of the blog post:
A new Coinbase post highlighting all of the growth on the Lightning Network #57268 https://twitter.com/Cdempsey44/status/1557370197010423809 [Nitter]
https://darthcoin.substack.com/p/bitcoin-lightning-irl-examples
Coinbase doesn't have lightning withdraws and I'd rather buy my Bitcoin from Cash App anyway
I prefer Kraken as they at least have proof of reserves
I prefer Bull Bitcoin, as they don't need to provide proof of reserves. :)
(though I use both)
I lightning withdraw as soon as I buy. My private key is my proof of reserves
I wonder if they planning on running their own lightning nodes.
never. Conbase is the enemy of Bitcoin. See their stance on block wars.
https://archive.ph/9aRW6 Coinbase missed the fact that miners are paid security. Who are they paid by? Full nodes, aka users who can accept or reject the work of miners based on the rules they run on their full nodes.