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Home » “In the future it will be possible to see dollars in Bitcoin Lightning”: Baltic Honeybadger 2023

“In the future it will be possible to see dollars in Bitcoin Lightning”: Baltic Honeybadger 2023

The Lightning Network has seen significant growth in recent years, although not enough as its potential goes much further. This was the opinion of key Lightning Network developers who met on September 2 at the Baltic HoneyBadger 2023 conference in Riga, Latvia.

The panel of experts consisted of by Tadge Dryja, Lightning Independent Developer, Sam Wouters, Researcher and Analyst at River Company, Justin Litchfield, VP Engineering at Voltage, and John Carvalho, CEO of Synonym. The panel of experts was chaired by journalist Aaron Van Wirtum.

Among the comments of specialists too What would be the future goal developers are looking for?According to Dryja, offline payments can be made in a completely secure way. This is because Bitcoin is trying to assimilate digital cash and this would make the Lightning network much more useful.

On that point, Litchfield noted that the Lightning network’s growth is significant, but not the maximum expected. However, he pointed out that in the future there will likely be “dollars on the Lightning network” due to the implementation of RGB tokens in this protocol, which would allow the creation of stablecoins within this network for instant payments with Bitcoin .

Even the same developers of Tether (USDT), the world’s largest US dollar stablecoin, have indicated that they are working on the introduction of USDT into Bitcoin via RGB tokensas reported by CriptoNoticias.

Supervising or non-supervising?

Implementation challenges include The panel of experts found that user experience plays a fundamental role in the increasing adoption of the Lightning network. Dryja explained that while self-custodial services offer the most control and guarantee over funds, “not everyone can set up a Raspberri PI and their own node”.

For Dryja, whose opinion Carvalho agreed, depot services offer much more user-friendly interfaces and user experiences. Litchfield believed that while this is true of these facilities and wants everyone to use self-government services “do not judge those who use child custody services.”

On the other hand, Wouters explained that while custodians offer relief, “it’s also about holding people accountable for their own money.” A maxim that the bitcoin community has embraced with slogans like “They’re not your keys, they’re not yours.” money”.

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