Divi, the creator of the Masternode One-Click Cloud Installer, recently announced they are working on a new product – Divi Chain Lightning. A new, improved way of performing lightning transactions with increased user friendliness and easier wide-spread adoption.
Explaining Lightning Nodes and Their Drawbacks
To start with, the team behind Divi has made a name for itself providing users with understandable blockchain software that doesn’t require you to be a cryptocurrency nerd to understand what you’re doing and how to use it. Having that in mind, the Divi Chain Lightning concerns implementing the same mindset in regard to lightning networks, more specifically – Bitcoin’s iteration and addressing its flaws.
The foremost concern that plagues all cryptocurrencies to date is the fact that they’re still not adopted widely. One of the key causes is the requirement for most people to have technical knowledge in order to use them. Establishing a Bitcoin Lightning Node is no exception – you’re opening a payment channel that requires connections to multiple users and an end point which needs to be running at the time of initiating a transfer – a major drawback. In addition, funds transferred across this payment channel need to actually be present in the wallet of each node. I.e. – the Sender “A” transfers 5 BTC across to Receiver “B”, so every node on the way (which could range from 2 to 20 hops) needs 5 BTC in their wallet to piggy back the request. You might have already thought of it but that’s not a convenient solution for larger transfers and could also hinder smaller ones too. On top of that, you need to consider the fees collected by each node along the path.
Can Divi Chain Lightning Solve Lightning Network’s Issues?
What the developers of Divi propose is a pretty elegant solution – using their top tier masternodes (Diamond Level) as backers of the transfers, as they’re already funded and would be able to process even large amounts of coins. It’s easy to overlook how this simple method could solve many of the issues of lightning networks. In addition, you’ll only need a single solution to manage all the funds – no need to setup additional machines or wallets, everything can be made to work from one program.
For enthusiasts, there will be access to explore in detail the different workings of the wallet and how funds are allocated but for most users, they’ll only need to know their balance. On top of that, the Divi Chain Lighting’s software will automatically switch funds around to different balances, choose the best way to complete a transfer, storage of multiple different coins, transforming currencies using integrated DEXs and Atomic Swaps.
All in all, there’s merit to Divi’s proposal and we’re eager to see how exactly it would be implemented. We’ll be keeping you in the loop as soon as there’s a new development.