John Deaton, a lawyer and cryptocurrency supporter, has criticized the Bitcoin Lightning Network, stating that it is less effective than the “Spend The Bits” protocol on the XRP Ledger. Deaton is an angel investor and chief legal officer for Spend the Bits. His remarks come amid concerns about alleged backdoors in the Lightning Network’s code. These concerns were raised by a developer who discovered a significant security vulnerability in the network. The developer claimed that deliberate vulnerabilities in the code could give attackers complete control over the network. This has raised questions about the security and trustworthiness of the Lightning Network. Additionally, there have been doubts about the network’s resilience and long-term viability, as its capacity has seen a 15% reduction over the past three months.
