Paolo Ardoino expects a 'quantum leap' in Bitcoin scaling solution adoption over the next few years, including the Lightning Network.
Bitfinex CTO Paolo Ardoino said he expects a "quantum leap" in Bitcoin scaling adoption over the next few years during a wide-ranging interview with The Block that covered the future of Bitcoin scalability and Lightning Network integration.
Embracing the challenge at Bitfinex, Ardoino said the integration led to substantial reductions in transaction costs and processing times for its users, giving it a competitive edge and opening up strategic partnerships as advocates for Lightning Network adoption. Bitfinex's commitment to that cause is multifaceted, Ardoino added, dedicated to partnerships that promote Lightning Network adoption, educational initiatives that enhance public understanding and technical advancements that boost Lightning's benefits.Beyond the Lightning Network, Ardoino also discussed Keet, a privacy-focused decentralized messaging platform with no access to user data, utilizing similar peer-to-peer technology that Bitcoin is premised on.
"Many hesitations about the Lightning Network stem from its intricate nature and its current stage of development," Ardoino said. "Even though it has demonstrated swift payments with minimal transaction fees, there remains a reluctance to embrace it fully." Earlier this year, the creator of the decentralized social media protocol Nostr, Fiatjaf, described the Lightning Network as an "inelegant pile of ugly and complicated hacks." Ardoino again emphasized the early stage of Lightning technology. "While some may view its complexity as 'ugly,' it is still the most promising and accomplished Bitcoin scaling solution that’s on the market today," he said.
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