RATE Group | Lightning Sucks, But It Could Help Build a Bitcoin Economy
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Lightning Sucks, But It Could Help Build a Bitcoin Economy

28 Sep Lightning Sucks, But It Could Help Build a Bitcoin Economy

Posted at 22:32h in Bitcoin News by

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“Profit is a bug.”

That’s according to Lightning Network co-creator and Lightning Labs co-founder Tadge Dryja, who spoke earlier this month at Scaling Bitcoin in Tel Aviv. (Dryja left Lightning Labs in 2016.)

However, 18 months after the namesake startup released the beta version of LND, Dryja’s sentiment is not stopping nearly a dozen lightning-related firms from pushing toward monetization.

Such is the case with Roy Sheinfeld, CEO of the mobile wallet startup Breez.

Since launching in June, the mobile app’s 11,000 monthly users have conducted 7,367 transactions worth 4.23 bitcoin (roughly $35,000 at today’s price), Sheinfeld told CoinDesk. The app already offers direct integration with Bitrefill and Moonpay, which allows users to pay certain bills and purchase crypto.

Plus, Sheinfeld said he plans to expand the startup to follow the Internet Service Provider (ISP) model, operating channel connectivity for users as a Lightning Service Provider (LSP)….

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