Bitcoin: emerging decentralized consensus networks vs. omni-present central authority structures

Ten years ago, the Bitcoin protocol was first conceived and freely published on the Internet. It promised to be the first scalable, decentralized consensus network. Since then, there have been thousands of other such coins forked and cloned from Bitcoin, though none have been so far been able to match Bitcoin’s degree of decentralization, adoption, […]

On the shoulder of giants: Lightning Network Protocol 1.0

“If I have seen further it is by standing on ye shoulders of Giants.”— Isaac Newton, 1675 On December 6, 2017, Lightning Developers, a medium.com publisher representing the three main parties (ACINQ, Blockstream, and Lightning Labs) that together are building the Lightning Network protocol, announced that Lightning Protocol 1.0 is operational. All tests were passed, […]