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Bitmatrix Founder Crashed Bitcoin Lightning Network - Investment - Nairaland

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Bitmatrix Founder Crashed Bitcoin Lightning Network by altcoinng: 2:07pm On Oct 12, 2022
Bitmatrix platform founder Burak Keceli, created and executed a complex bitcoin blockchain transaction that temporarily took out part of the Lightning Network micropayment network.

Lightning Network is a second-tier solution designed to make bitcoin transactions fast and cheap.

As an experiment, Keceli, made a multisig transaction, using 998 private keys out of the maximum possible 999. He paid a fee of about $4.9 when transferring less than a dollar in bitcoin.

The transaction caused problems for Lightning Network node operators, whose customers could not sync with the network. This was caused by exceeding the maximum size of the “witness” script.

The developers found out that the failure was caused by a bug in the btcd parsing library. It checked the limitation of the script size with an old version of the code from the time of SegWit v0.

The team members have already fixed the bug.

https://altcoin.ng/bitmatrix-founder-crashed-bitcoin-lightning-network/

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