Analysis Crypto by Thebittimes.Com

In December 2022, Bitcoin ’s most popular scaling solution, the Lightning Network, experienced a critical vulnerability error. Had a hacker exploited this error, many users could have lost their Bitcoin . For context, there are thousands of users and at least 5,500 Bitcoin worth at least $150 million in the Lightning Network. Now that the bug is patched and Bitcoin’s most popular second layer is safe to use, Lightning developer Antoine Riard has disclosed the full details of the vulnerability. Riard’s post-mortem of the vulnerability admits that many Lightning users could have lost their funds entirely. Riard also explained the code maintenance required to prevent these so-called ‘transaction-relay jamming attacks’ from recurring in the future. The bug is the latest in a long series of Lightning bugs. Protos has been following an underreported series of them , including the unattributed payment routing bug from November 2022, the BTCD library bug from October 2022,...

A Twitter user from the United Kingdom spent hours sending micropayments to strangers on the internet to demonstrate the Bitcoin Lightning Network. A Bitcoin (BTC) advocate on Twitter known by the name of ShireHodl, or simply Shire, sent over 110 micropayments to first-time Bitcoin Lightning users in response to Michael Saylor's Lightning Network pool.  Shire asked those new to Lightning to download a Lightning wallet from App Store or Google Play Store and to send him a QR invoice. To pay the invoice, Shire scanned the code with his camera, and the Bitcoin Lightning Network did the rest. In the Tweet, Shire said he’d send 1000 sats to as many people as he can be bothered before sleep. OK guys. Sent 76 over the past hour and now I'm tired! Post an invoice and I'm sure other bitcoiners will pick up the tab though pic.twitter.com/dWytGmsjyf — Shire (@ShireHODL) December 5, 2022 Speaking with Cointelegraph, Shire said that he has “sent out about 110 payments of 1000 sats....