Could something like the Bitcoin Lightning Network be implemented for Monero?
What differences make a Monero implementation of the Lightning Network (or equivalent) more or less difficult than the Bitcoin implementation?
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1LN is not a sidechain, so you're asking about two different things. It would be better if you split up the two posts into two different question posts.– MurchCommented Jul 20, 2016 at 16:02
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An answer is here.– Christopher KingCommented Aug 10, 2016 at 12:44
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1 Answer
Yes most definitely. Much of the infrastructure that LN would require already exists in Monero, although multisig is a key component that is currently missing. Thankfully that is coming in the near future, after RingCT has been implemented, as it builds on the RingCT work.
There are some key improvements we'd likely make to an LN implementation for Monero, mostly focused on retaining as much privacy as possible. This is very early on in the process, however, and there is much discussion and thinking that still has to happen before we can commit to developing any such additional LN functionality.
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It should be noted that multisig is already possible with current monero protocol; it just hasn't been implemented in any client software: monero.stackexchange.com/questions/782/… Commented Aug 10, 2016 at 12:42
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Update: n/n multisig now exists, but works a bit differently than in Bitcoin. Commented Sep 20, 2017 at 1:42