’s lightning network is major step forward, that much is undeniable. Being able to send at an accelerated rate is a feature that has been something that many have desired from the beginning. However, Lighting faces numerous issues, not the least of which are major scalability problems, operating costs, and other logistical hurtles. With DIVI’s lightning,
sometimes coming in second is for the best. After observing these numerous problems, DIVI can take a step back and observe, offering the best solutions for these complicated problems.
The first and most prominent of problems that DIVI’s lightning network solves are the harsh limitations set forward by the network on settlements. A block in the chain is only processed once every 10 minutes and can only contain 1MB of data. Naturally standard transactions already fill these, so any additional lightning transactions that are attempting to be settled are hard-pressed for room. To put it another way, this only allows for 280,000 daily to be processed. Such a limitation poses extreme scalability issues. Keeping people contained on the Lighting network is then the challenge. Splicing is a proposed solution, but, doesn’t solve the underlying scaling issue. DIVI’s lightning network has 60 second blocks with a 2MB limit, allowing for six times the transactions daily.
Tied into this is an issue regarding fees, with transactions on Lightning being free. If transactions aren’t being monetized, those who run nodes have no incentive to do so. DIVI proposes two types of transactions, regular lightning transactions and the ability to data on the , which will be monetized. For example, connecting a external accounts as a send-to address will incur a fee of around fifty cents to a dollar. In addition, minted coins are used to pay stakers and masternodes, allowing them to be paid without transaction fees.
This also ties nicely into DIVI’s goal of Human Readable address and the easy of . With the ability to use Namecoin’s ability to metadata, addresses can be renamed to pretty much anything. Lightning offers nothing comparable, retaining addresses comprised of long complex strings of characters. To take this further, DIVI’s lighting swaps are built around atomic swaps, allowing for multi-coin functionality. Along with this, DIVI’s will incorporate a built in DEX, this allows you to send someone a payment of any coin and it can be received as any other coin on DIVI’s network.
Lighting also has another massive usability problem: the endpoint must be online to receive the coins and complete the channel. This eliminates using the network for transactions to anyone in different time-zones, subscriptions, and more dramatically limiting how and when the network can be used. For the average user or crypto greenhorn, this may decide whether or not they even use such a severely limited network. DIVI proposes a novel solution, detecting if the endpoint is online and if its not, utilizes another instant method automatically. None of this has to be known to the end user, all they have to do is hit send.
Almost worse are the complications in how users have to view the Lightning network as almost an entirely new currency. Users must choose to sent coins into the Lightning network and then its stuck there until manually withdrawn. It may seem minor to some, but in reality, it’s simply a unnecessary complication. With reduced block times, DIVI can just sweep this unsightly problem under the rug. With improved swap speed, it allows people to view this as just another transaction option, not another coin or .
For those looking to send large amounts of on the Lightning Network, look elsewhere. With Lightning, each node that the transaction passes through, it must contain the same amount that’s being sent through. Sending small amounts of , say 0.5, is no real issue as each node must contain just 0.5BTC to pass through it. As transactions increase in size so does the difficulty in finding a path for the currency to pass through. With minimal transactions fees, there is in turn minimal incentive to keep large amounts of in the network to complete transactions. DIVI’s network proposes to simply use the existing masternodes to fund the network. If this is possible it offers a transaction type for anyone, significantly increasing the possibility of mass . An overhaul of masternode allocations are needed, but if this is possible it would prove to be incredibly valuable for incentivizing further masternode .
DIVI’s Lighting network took a look at the hard facts surrounding Lighting and offers long-term solutions that all tie into the main goal of increasing adoptability of the coin. With scalability, funding issues, and usability issues, Lightning simply doesn’t have much, besides being to market first. Sometimes being second to something has no downsides. With DIVI’s network being second means being able to analyze and offer solutions to problems that have plagued others. Taking a step back and being able to see and improve upon flaws in existing products and then creating a vastly improved product is a classic success story, making DIVI’s Lighting network one to watch out for.
Published at Fri, 19 Apr 2019 02:20:21 +0000
