Bitcoin Lightning Developers Need ‘Wake Up’ and Address Security Flaws

Antoine Riard, who departed the Lightning Network in October, contends that there is a chance that the system may grow more centralized, more vulnerable to regulatory threats, and more distinct points of collapse.

Source: tokenpost.com

According to a previous Lightning Network engineer, programmers operating on the Bitcoin layer 2 infrastructure have shifted from being security-focused to more concerned with generating profits for their investors. Cybersecurity expert and Bitcoin core engineer Antoine Riard drew news last month when he announced his departure from the Lightning environment due to worries about an upcoming attack vector known as replacement cycling, which hackers may use to strike payment channels and take away the money. 

While some Bitcoin engineers, including Machine98, indicated that the latest category of assaults puts Lighting in a hazardous position, Riard stated that it is a tough attack to execute in the first place. To Riard's great dismay, decentralization seems to be an arrangement that these venture capital-backed Lightning companies are ready to undertake. The second-layer approach layered on top of the Bitcoin network is called the Lightning Network. Its goal is to increase Bitcoin's productivity and scalability. Users can initiate payment pathways, carry out several off-chain transactions, and then resolve the outcome on the Bitcoin blockchain by utilizing the Lightning Network. A freshly developed type of attack known as a substitute cycling attack takes advantage of discrepancies in various mempools to steal money from an account user. 

Antoine Riard clarified that Lightning hadn't encountered as many assaults as many Ethereum layer 2s since Lightning users often only keep a limited amount of money in their digital currencies at a given moment, despite safety worries and possible shift into centralization. DeFiLlama claims that $194.1 million worth of Bitcoin is locked in the Lightning System.

Disclaimer: FameEX makes no representations on the accuracy or suitability of any official statements made by the exchange regarding the data in this area or any related financial advice.