Lightning Network doesn’t solve all issues with Bitcoin.
The Lightning Network is a layer 2 protocol for Bitcoin, which is known for its lightning-fast speed. People love it, despite its potential issues and shortcomings. It has much promise and could solve Bitcoin’s scaling problems. However, it has been pitched as the solution for everything, including transaction fees being too high, blocks being too small or slow, and governments censoring transactions. With Bitcoin fees skyrocketing amid recent events, some think the Lightning Network is the solution to Bitcoin’s problems, but not everyone thinks so. Some question whether it will be able to solve the problem it was intended to solve. Still, there is a growing pragmatic view that the Lightning Network is good for certain types of payments, but not all.
The Lightning Network is an experimental technology, and proponents warn to exercise caution when committing funds to it. It has spurred many promising Bitcoin startups, and some see it as a way to make Bitcoin accessible to billions. But the idea that Bitcoin can scale to billions is not guaranteed, and some see it as an outrageous proposition. Bitcoin requires decentralized diversity of thought, and it’s okay to champion the Lightning Network or other projects. However, there are no panaceas, and it’s important not to invest every hope and dream in one Bitcoin spinoff.