The Lightning Network of Bitcoin is expected to be an innovative solution to improve scalability and transaction speed. However, making the Lightning Network accessible to the general users still presents challenges. This article explores why using the Lightning Network is difficult and what is needed to onboard more users.
Difficulties in using the Lightning Network: While the Lightning Network holds promise in addressing Bitcoin’s scalability issues, there are several challenges associated with its usage.
a. Need for custodial wallets: To utilize the Lightning Network, users need to use custodial wallets. This means users have to rely on third parties to manage their Bitcoin instead of managing it themselves.
b. Difficulty in running nodes: Using self-custodial wallets in the Lightning Network requires running a node called lndhub. However, running a node is difficult for the average user and can be seen as a high technical barrier.
Ideas to promote Lightning Network adoption: To facilitate the adoption of the Lightning Network and attract more users, the following ideas can be considered:
a. Simplification of nodes: There is a need to simplify the process of running Lightning Network nodes. Tools and interfaces should be provided that allow users to easily run nodes without requiring technical expertise.
b. User education and outreach: It is important to educate users about how to use and benefit from the Lightning Network. Additionally, outreach activities and awareness campaigns should be conducted to convey the appeal of the Lightning Network to the general user.
Addressing Bitcoin scalability and sustainability: Bitcoin scalability and sustainability are important challenges. While the Lightning Network is part of the solution, there are other approaches such as increasing block size or developing alternative Layer 2 solutions. I believe developers should continue working on Bitcoin scalability and sustainability.
The Lightning Network holds promise as a technology to address Bitcoin’s scalability issues, but the difficulties in its usage hinder widespread adoption. To promote the adoption of the Lightning Network, more user-friendly wallets and simplified node execution procedures are necessary. User education and outreach activities are also crucial elements.
Bitcoin scalability and sustainability should continue to be addressed, and by overcoming these challenges, it will be possible to onboard more users.