The idea of the project belongs to the co-founder of Lightning Labs, Laolu Osuntokun. At the moment, the basic system is being set up, but the ultimate goal, according to Osuntokun, is to launch a trading platform based on the Lightning Network, which will link users and watchtowers.
As the developers explain, the proposed concept is related to the dispute resolution mechanism in the Lightning network: if the fraudster attempts to execute a transaction that steals money from another user, the victim has time to repel the attack. But for this, the holder of the crypto currency must constantly monitor his accounts.
“The price of scalability is perpetual vigilance,” says Tadge Dryja, co-author of the Lightning Network. With the help of the watchtower, users will be able to transfer surveillance to “outsourcing”, and monitoring organizations will notify the user in case of threats.
This approach does not cancel decentralization: the user can connect to any number of watch towers, not relying solely on one “guard”.
As Osuntokun explains, if at least one of them is “decent”, the system will work. However, not everyone supports Osuntokun’s belief that many protective organizations are needed and their incentives are in the form of fees and rewards.
Dryja believes that to ensure the security of the network you need one honest provider: “One altruistic node that protects the entire network will be enough. Someone will do it, “he said during the Stanford blockchain conference. On it, Osuntokun also presented the current solutions for the scalability of towers, given the huge number of “controlled” users.
Described in the presentation “Strengthening Lightning” developments include reducing the amount of information stored and new bitcoin-opcodes, which should be implemented by the end of this year.
The next step is to make the work of trading platforms and observers unnoticeable: “Ideally, all this will be abstracted from the end user,” Osuntokun said, while noting that experienced users with technical background will be able to manage their own towers.
Write: Richard Abermann