Lightning Network supporters are praising bestselling crypto author Andrea Antonopoulos for defending the development of this revolutionary off-chain protocol. In a public statement, the well-known crypto expert explained how it was incorrect thinking to assume that because the Lightning Network doesn’t handle large payments at the moment; that it won’t be able to in the near future.
Andrea is no stranger to the crypto game and he is considered a leader in the blockchain field. He is credited with writing one of the best technical blockchain guides in existence – Mastering Bitcoin. He also has multiple titles on Amazon’s best sellers list including the “Internet of Money” and the “Why of Bitcoin”.
Andrea teaches blockchain courses at the University of Nicosia and he currently serves on the Oversight Committee for the Bitcoin Reference Rate in Chicago. In addition to his accolades, he has also been called in to testify in multiple crypto related legal cases. His opinion is considered gold in the cryptocommunity and his blessings are sure to help increase Lightning Network adoption and development over the coming year.
Andrea Antonopoulos has Perfect Timing
Andrea timed his LN defense perfectly. The Lightning Network had been getting flack because of a skewed report that alleged the LN has a lower than 1% completion rate on transactions over $200. The report was conducted by the research firm Diar. The report claims that there is a %50 failure rate with transactions over $5.00.
What the report failed to mention is that the LN developers have restricted large transactions on the network. The LN is still in its Beta testing stages and the developers have repeatedly warned users not to send large amounts until the network is completed. In its current stage of development, the LN is functioning as planned. There are already multiple platforms that showcase the microtransaction capabilities of this scaling solution.
The BTC Community Chimes In
A hail storm of criticism flooded social media within hours of the report’s release. Bitcoin core developer Peter Todd, and Jonas Schnelli, a core developer contributor; lambasted the report for its obvious omissions. Lightning Labs co-founder, Elizabeth Stark also got in on the report bashing. Lightning Labs is one of the main development teams behind the LN. They are also one of the parties telling users to not use large amounts on the LN yet.
Lightning Strikes Start a Fire with Andrea Antonopoulos
It appears that the Lightning Network is striking a cord within the cryptocommunity. The Lightning Network is considered by many as BTC’s best scaling solution. The protocol is already capable of handling millions of microtransactions per second. Bitcoin’s blockchain has become extremely congested over the last year. The Lightning Network is giving Bitcoinists a return to the days of instant payments with miniscule fees.
As the LN approaches completion, there are sure to be more anti-LN propaganda circulated. While these reports serve as a small distraction, it is impossible to deny the capabilities the LN brings to the table.