John Deaton Criticises Lightning Network Amid Security Concerns

Deaton Questions Lightning Network's Security Amidst 'Spend The Bits' 

John Deaton, a prominent lawyer and crypto currency advocate, has criticised the Lightning Network, Bitcoin's layer-2 scaling solution, in favour of the "Spend The Bits'' protocol on the XRP Ledger (XRPL). Deaton is an angel investor and chief legal officer for Spend the Bits, formerly praised as a more secure alternative to Lightning. His criticism relates to concerns raised by WhaleWire, an online crypto investigator, about a recent security breach discovered in the Lightning Network, leading a developer to withdraw from the project. This declaration has raised questions about Lightning's security, particularly due to its major backers' ties to Tether, Bitfinex, and BlockStream. The Lightning Network's declining capacity for its long-term viability further fuels these concerns.