Lawyer and cryptocurrency advocate John Deaton has criticized the Lightning Network, stating that the ‘Spend The Bits’ protocol on the XRP Ledger is more effective. The Lightning Network is a second-layer solution built on the Bitcoin blockchain to improve scalability and efficiency. Deaton, who is an angel investor and chief legal officer for ‘Spend the Bits,’ expressed his preference for the protocol in a tweet. This is not the first time Deaton has endorsed ‘Spend The Bits’ as an alternative to the Lightning Network. Recently, concerns were raised about a security vulnerability in the Lightning Network, leading a prominent Bitcoin developer to withdraw from the project. The developer alleged deliberate vulnerabilities in the code that could give attackers control over the network. The Lightning Network’s current capacity is only 0.025% of Bitcoin’s total supply, raising doubts about its resilience and long-term viability. Additionally, the network’s capacity has decreased by 15% in the past three months.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	John Deaton
Companies	XRP Ledger, Bitfinex, Bitcoin, BlockStream, IML, Spend The Bits, Ripple, Tether, Lightning Network
Currencies	XRP, Bitcoin
Securities	None