0 sats \ 9 replies \ @faithandcredit 30 Jun 2022 \ on: Daily discussion thread
I think LN is more decentralized than BTC
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0 sats \ 0 replies \ @pony 1 Jul 2022
LN is more centralized then ETH
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0 sats \ 7 replies \ @random_ 30 Jun 2022
Why?
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3 sats \ 3 replies \ @nout 1 Jul 2022
Some arguments could be:
  • There are multiple implementations in different programming languages
  • You can run the node on your phone ... and there's more LN nodes
  • You can make transactions with your peer without anyone ever knowing about it
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21 sats \ 2 replies \ @random_ 1 Jul 2022
There are multiple implementations in different programming languages
I don't think multiple implementations impact centralization. There are dozens of reddit clients. Is reddit decentralized?
You can run the node on your phone ... and there's more LN nodes
Isn't that a custodial lightning wallet and not a node? Essentially using someone else's lightning node.
You can make transactions with your peer without anyone ever knowing about it
This is only true if you have a direct channel with them. Otherwise, all you have is plausible deniability. Besides, privacy is not decentralization. Using cash is also private, but that monetary system is also centralized.
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21 sats \ 1 reply \ @nout 1 Jul 2022
There are many types of decentralization... e.g. single implementation is a centralized attack vector (manipulating devs, manipulating the company backing that implementation, etc). Having multiple different centers is helpful against some of those attacks.
What are you using as a definition of decentralization?
I quite like this definition of Trust Models (yeah... I know...)
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0 sats \ 0 replies \ @random_ 1 Jul 2022
What are you using as a definition of decentralization?
Since we're on to another daily discussion, I'll make a separate post to define centralization :)
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0 sats \ 2 replies \ @faithandcredit 30 Jun 2022
Its not a single ledger and you dont need permission from a miner everytime you wish to transact
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150 sats \ 1 reply \ @random_ 30 Jun 2022
The network itself is very centralized.
"if the 100 routers with the highest simulated traffic increased their transaction fees to close to on-chain fees, the majority of payment sources would have no less expensive option to route their payments."
https://arxiv.org/abs/1911.09432
"90% of the nodes only correspond to 10% of the cumulative betweenness of all nodes. Consequently, this indicates an extraordinarily high network centralization, where 90% of the shortest paths in the network lead through only a few highly centralized nodes"
https://arxiv.org/abs/2201.07746
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0 sats \ 0 replies \ @KingZing 1 Jul 2022
this does not spark joy
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