Ethereum: Is Lightning Network a system of proof of participation?
In his recent lecture Andreas Antonopoulos, an important cryptocurrency expert, made a statement that caused a debate between enthusiasts and skeptics. He suggested that Bitcoin would eventually go from the work (POW) test to the hybrid system, which combines the proof of participation (POS), increasing the complexity of his blockchain architecture.
Antonopoulos’s statement is not completely new, because some supporters of the participation proof (POS) have long claim that they should be taken into account in the case of bitcoins. However, the mention of the decentralized Lightning-A payment system and the flow system of the ray payment system built in Blockchain Ethereum as a fascinating case study about how POS can manifest itself in many ways.
Błyskawica network: Alternative to an outstanding test?
Native Ethereum, Ether (ETH) cryptocurrency, is already used for various purposes except traditional transactions. Lightning Network allows users to quickly and efficiently send ETHE, using their extensive NAS network around the world. This function enables quick liquidation times and reduces the speed of the transaction.
Lightning Network works using the POS consensus mechanism, which differs significantly from Bitcoin area In postal systems, Walidacze is selected for creating new blocks based on creating a “rate” or a certain amount of ether. To participate in this process, users must put their ETH and generate a unique private key.
Understanding the evidence of participation
Before immersing in the POS Lightning Network system, let’s briefly examine what POS suggests:
- validation : Walidacists compete for creating new blocks based on their “stake” – or ether.
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- Security : POS mechanisms can offer better safety due to the random selection process.
Lightning Network’s participation system **
Let’s look now how Ethereum’s Lightning Network uses the System of Participation (POS):
- validation : Network of lightning act as Walidators, competing for creating new transactions and establishing waiting balances.
- Walidacists with the highest share are chosen to create a block.
- Security : Ethereum lightning network provides better safety, using the POS consensus mechanism, offering a safer and decentralized validation process.
verdict
Although the declaration of Andreas Antonopoulos caused a debate about Bitcoin’s transition to the hybrid system, it should be noted that Lightning Network is in proof of participation (POS). The question remains whether this will be adopted as a new Bitcoin or Ethereum consensus mechanism.
Ethereum’s Lightning Network serves as a proof of the concept of how POS can manifest itself in various applications, including decentralized finances (DEFI). As Lightning has developed and improved, it can ultimately be a real alternative to traditional blockchain validation methods such as Work Proof (POW).
Application
The Lightning Network participation system offers an intriguing example of how POS can be used in many applications. Understanding this concept, we can get information on the potential benefits and safety improvements offered by decentralized consensus mechanisms.
Because the development of Ethereum still shapes the future of blockchain technology, it will be necessary to analyze and understand these emerging systems to better understand their consequences for our digital scenario.
references
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