Burak Kedjeli, founder of the Bitmatrix platform, created and executed a complex transaction on the Bitcoin blockchain that temporarily took down part of the Lightning Network (LN) micropayment network.
I just did a 998-of-999 tapscript multisig, and it only cost $4.90 in transaction fees.https://t.co/CvBHaRAqPu
— Burak (@brqgoo) October 9, 2022
Second-layer solution LN is designed for fast and cheap BTC transactions.
a multisig-transaction, using 998 private keys out of 999 maximum. For a transfer of less than a dollar in BTC, he paid a fee of about $4.90.
The operation caused problems for LN node operators, whose clients could not synchronise with the network. This was caused by exceeding the maximum size of the witness script.
Developers found that the outage was caused by a bug in the btcd parser library. It checked the script-size limit against an older code version preserved since SegWit v0.
The team has already fixed the bug.
In May, former head of Meta’s payments division David Marcus launched an LN-focused startup Lightspark.
In September, MicroStrategy announced the creation of enterprise solutions based on an L2 solution for scaling Bitcoin.
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