The new findings on Bitcoin suggest that Bitcoin’s lightning network can now send private messages. Let’s check the truth behind it…
Joost Jager, the famous Lightning Labs developer, has unveiled an experimental and new proof of concept last week called Whatsat. It’s a new version of Bitcoin’s lightning that can send private messages. As soon as the tech-mind finds strong proof of the same, he just can’t stop himself from taking the news to his Twitter feed.
It’s more like censorship-resistant same as Bitcoin. Encrypted apps morph messages into an unreadable text format to keep messages away from prying eyes. But here, there’s no central entity to stop users from employing the network. When Joost Jager explains briefly, he told that “Lightning is a peer-to-peer network where anyone can participate.” It doesn’t have any central authority to permit what to communicate.
Private messaging is a hot topic of discussion for bad actors in the digital age. Because they can easily intercept messages that aren’t fully encrypted. Though there are applications that provide complete privacy, private messaging is still away from that concept. Private messaging gives freedom of private talking. But we all hardly aware of the potential threats it can bring.
Whatsat is a passion project for Joost Jager and is not some project he’s working for Lightning Labs. The application is still at the early stage. And, not used for bitcoin yet.
Bitcoin Lightning Network: An Evolving Messaging System
It’s always possible to add extra data to lightning payments. But a recent change has standardized how this built-in messaging system works – Jager told. This defines that lightning network software is still compatible. There are other technologies you can use to decentralized messaging. However, the advantages of lightning are exceptional. And, you can’t find the same in other apps for sure. Undoubtedly, Lightning’s unique decentralizing power though makes it a stand out. But the addition of payment networks makes it much-loved among users. Running any type of centralized or decentralized network requires money. With lightning, it’s easy to pay on a per-message basis.
It’s hard for social networks and chat platforms to achieve the network effect; however, they become exponentially useful for people. But twinning payments and messaging might help lightning – said Jager. The network isn’t fully mature yet and is far away from testing with realistic fees. So, it’s hard to disclose what’ll be the actual costs of running a routing node in the future – Jager added to his statement.
Lightning payment currently costs a median of .0001 satoshis which is 100millionth of a Bitcoin. If the average user sends 30 messages in a day, then the cost will be 1 satoshi per message. That’s about a dollar with respect to the current bitcoin exchange rate. This is just a prediction and if the lightning network matures to a system in the near future, then the future of permissionless private messaging will not remain a dream anymore.
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