Appearing onstage at the Bitcoin 2024 conference, Trump also promised to “fire” SEC chair Gary Gensler, set up a crypto advisory council, and make the United States the “crypto capital of the world.”
I’m not very interested in cryptocurrency generally but I’m interested in how the tech works–in addition to the aforementioned issues with security if one party controls a significant amount of the lightning network, wouldn’t lightning also be inefficient if a large percentage of transactions are one-offs? It would generate a transaction on the blockchain to open the payment channel between two accounts and a second transaction to close the account, correct? So if the actual number of transactions is two or less it doesn’t offer any actual advantage?
I’m not very interested in cryptocurrency generally but I’m interested in how the tech works–in addition to the aforementioned issues with security if one party controls a significant amount of the lightning network, wouldn’t lightning also be inefficient if a large percentage of transactions are one-offs? It would generate a transaction on the blockchain to open the payment channel between two accounts and a second transaction to close the account, correct? So if the actual number of transactions is two or less it doesn’t offer any actual advantage?