The best seller in Lightning commerce might be small data

Wei Lin

By Wei Lin


Darknet market vendors are selling stolen personal documents online for 10 cents each. If illicit data markets can flourish, then compliant ones can too, and the growth of the Lightning Network provides a glimpse into what sort of infrastructure the next generation of (legitimate) data vendors can look forward to using.

From #reckless to Wumbology: Lightning Network’s Infrastructural Build Out
"While Lightning started out #reckless (indicating that upon 2018’s launch it was still immature and funds could be lost), the proposal to increase channel limits represents a major step in the maturity of the network."

A darknet vendor is allegedly selling images and data associated with crypto exchange identity verification processes
"A user going by the name of 'ExploitDOT' is allegedly selling 100,000 personal documents that were used to comply with the know-your-customer (KYC) regulations on cryptocurrency exchanges, as first reported by CCN. He posted the sale on July 17, 2018 on a sub-community (DNMAds) of Dread, which is a hidden Reddit-like community that operates on darknets such as Tor and 'provides a platform for open community discussion without as much censorship and limitations.'"

Lightning Network Keeps Growing

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Beyond the doomsday economics of “proof-of-work” in cryptocurrencies
"The conclusions are, first, that Bitcoin counterfeiting via “double-spending” attacks is inherently profitable, making payment finality based on
proof-of-work extremely expensive. Second, the transaction market cannot generate an adequate level of “mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain."

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Are Crypto Lending And Institutional Custody Good For Crypto? First Principles
"Financialization is, therefore, a dicey process. But it is absolutely necessary. Without it, society cannot optimize the investment of saved resources across people, places and time. Consequently, for Bitcoin, responsible financialization will involve finding ways to lend bitcoin without corrupting it by creating more claims to bitcoin than there are bitcoins."

In-Game Lightning Transactions

With cell service crippled, Puerto Ricans look skyward for a signal
"A week after Hurricane Maria came ashore as the most powerful storm to hit Puerto Rico in nearly 90 years, knocking out its electric grid, 90.9 percent of cell phone sites on the island remain out of commission, according to the U.S. Federal Communications Commission. For miles, cell phones deliver one frustrating message: 'No Service.'"