Is The Lightning Network Really Decentralized? "Lightning is the most decentralized Layer 2 in existence. period." - nifty, bitcoin++ villains 🇺🇸 Apr 23+24

When someone says lightning is centralized, it's mostly because of the LSP model where most payments flow through a few nodes. And most payments are under 4 hops so the same set of nodes serve most of the network, which is fine I guess. Users generally don't open new channels because they think some routes are centralized.

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@MartyBent @niftynei I don’t think she said “like” enough. Thank god for all of her detailed and insightful responses

@niftynei There is no lightning network. It's a protocol. Anyone can build their own centralized network on lighting. Bitcoin Beach was closed off for years. Their users had to use a centralized on and off ramp

@niftynei do not comply!