Bitcoin Developer Critiques Lightning Network Usability
- Paul Sztorc claims over 80% of Lightning payments are custodial, likening its promotion to fraud.
- Everyday payments on the core network reportedly have a success rate of approximately 99.66% for transactions around $100.
- In November, Lightning processed $1.17 billion across over 5 million transactions, though this is below its peak of nearly 6.6 million transactions in August.
- CoinGate reported that Lightning accounted for just under 10% (9.6%) of Bitcoin payments processed in early H1 of the current year.
Sztorc’s remarks highlight ongoing concerns regarding the Bitcoin Layer2 protocol’s usability, as many users still prefer traditional payment methods like Visa and Mastercard over Lightning’s complex system.
Despite a transaction volume exceeding $1 billion in November, questions remain about the actual user experience and adoption rates on the network.(Source)
