Most people who use Bitcoin are looking forward to the Lightning Network. Bitcoin Cash supporters, on the other hand, are not so keen on this concept. HandCash even goes as far as calling LN an “unnecessary and overly complicated” solution. An interesting train of thought that will spark even more debates.
The Lightning Network is designed to make Bitcoin better. It will allow for faster and cheaper transactions if all things go according to plan. Whether or not things will play out along those lines, is a different matter altogether. So far, the beta testing of LN seems to be quite positive, but there’s still work to be done. Some other people are not too convinced this solution works or is even necessary, though.
Lightning Network Faces Some Criticism
HandCash, for example, sees no benefit in using LN. According to the service provider, Lightning Network transactions are still more expensive than BCH. Additionally, the concept feels pretty complicated for most users. With two different “balances” to contend with as well, it is not necessarily a consumer-oriented solution. Even so, it is something most Bitcoin enthusiasts will benefit from, according to the developers.
We've tested Bitcoin Cash vs Lightning Network and… LN feels so unnecessary and over-complicated. Also, still more expensive than Bitcoin Cash fees – and that's not taking into account the $3 fees each way you open or close a $50 channel. Also two different balances? Confusing.
— HandCash (@handcashapp) February 20, 2018
Whether or not the Lightning Network will indeed improve things, is a different matter. Until a convenient solution for average consumers in place, the LN implementation will not necessarily seem appealing. Anything that is complicated will struggle for traction eventually. Removing complexity for the end user will be a big point of focus for the Lightning Network. Achieving that goal may prove to be a lot more complicated than originally assumed.
None of this means LN will fail, mind you. It’s always good to hear different opinions on new technology. Unfortunately, it seems LN is not the solution most users will feel comfortable with in its current form. Then again, it is not production-ready by any means, and a lot of things can still change. Bitcoin and Bitcoin Cash can still coexist without problems. Unfortunately, it seems the “competition between both currencies can cloud people’s judgment quite a bit.
Header image courtesy of Shutterstock