Bitcoin’s Lightning Network Protocol Passes Formal Security Review

Bitcoin’s Lightning Network, Simply Explained!

Researchers Formally Review the Lightning Payment Network Specification for Bitcoin and Confirm the Reliability of Its Basic Protocol.

A team at the University of Edinburgh used mathematics to test the safety of the concept. In the course of formal analysis, they studied the underlying cryptographic algorithms, including digital signatures..

Research results have shown that the basic protocol of the lightning network is not inferior to Bitcoin in terms of reliability. They also determined that a bona fide user can only lose their funds if the signature or hash function is damaged..

However, the team notes that does not confirm the reliability of the specification security of software implementations based on it. Since the offered finished products may contain errors.

At the moment, there are several software options based on the official specification: Eclair, c-lightning and LND. To carry out their formal analysis, a working version of the specification is required that machine algorithms can read..

text: Ivan Malichenko, photo: Unsplash

Bitcoin's Lightning Network Protocol Passes Formal Security Review

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