Research shows: By implementing security measures, the Lightning Network will be able to effectively prevent hackers.

The Lightning Network has implemented a plan that serves as a security measure for transactions, preventing hackers from stealing cryptocurrencies and removing detected bad nodes.

A brief introduction to the Lightning Network: it was created to address the slow transactions and high fees between cryptocurrencies. The concept is akin to A and B wanting to make a transaction, then opening a channel where no external computational power is needed. Both parties just need to agree on the changes in the amounts in their respective wallets.

The Lightning Network introduces a measure called "Justice transactions." A report shows that Justice transactions are designed so that "if a thief attempts to steal funds on the Lightning Network, they not only lose the funds they tried to steal but also all of their funds in the relevant channel. This 'punishment' is expected to act as a deterrent, also referred to as 'justice'."

According to a recent report by BitMex Research, the Lightning Network has eliminated 2.22 bitcoins associated with dishonest transactions. While this amount may seem small, it represents approximately 141 transactions, accounting for 0.7% of all transactions.

However, this does not necessarily mean hackers tried to steal this money, as some may have been seized at the start of the transaction. BitMex Research also indicates that not all of these transactions were necessarily dishonest, as some may have been misreported. Additionally, some users may have been testing the system.

Further Reading

• Fold App to Support Bitcoin Payments at Retailers like Starbucks, Whole Foods
• Popular Bitcoin Hot Wallet to Support Lightning Network

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