Attorney John Deaton has been actively involved in the ongoing legal process of the XRP Coin case for years, consistently sharing his comments on the matter. Now, as the light at the end of the tunnel becomes visible, he has made some interesting statements. If we recall Ripple executives’ previous statements against Bitcoin, we can say that all these remarks stem from Ripple’s intention to strengthen its dominance in the blockchain field.
The Ripple and Bitcoin Battle
Although it has been forgotten, we previously shared a few statements about Ripple’s approach to Bitcoin as a company in the past 3 years. Now it seems that Attorney Deaton has taken on this task. Attorney and cryptocurrency supporter John Deaton believes that the “Spend The Bits” protocol on the XRP Ledger (XRPL) is better than the Bitcoin Lightning Network.
LN is an extremely important service for BTC adoption, enabling fast and inexpensive transactions on the Bitcoin network. Just as Arbitrum is an Ethereum L2 solution, LN is also a BTC layer2 solution.
Deaton, who is an angel investor and the Chief Legal Officer of Spend the Bits, seems to be promoting the LN alternative he has invested in. Last month, the Ripple supporter attorney declared the protocol to be safer than the Lightning network.
Is the Lightning Network Secure?
A post made by a user named WhaleWire focuses on a recently discovered code vulnerability in the Lightning Network. According to the anonymous user, intentional security vulnerabilities exist in the code of the Lightning Network that potentially allow attackers to gain full control of the network. WhaleWire is also a blockchain developer.
“One of the top Bitcoin developers recently discovered a major security vulnerability in the Lightning Network, which prompted him to announce his departure from the project. He claims that the code contains intentional backdoors that allow attackers to easily take full control of the network.
Let’s not forget that all the main supporters of LN are Tether, Bitfinex, and BlockStream, which are managed by scammers. So, who is surprised?
Of course, the maximalists and corrupt mainstream crypto news channels will remain silent about this.”
It is known that giants like Tether, Bitfinex, and BlockStream are the biggest supporters of LN. The vulnerability disclosure supported by Deaton is trying to implant the idea that these giants could sabotage the network for their own benefit.
Even if it were hacked, the lack of a massive TVL in the L2 solution would not jeopardize the future of Bitcoin. Indeed, Ripple’s approach as a company towards Bitcoin and Deaton’s investment in a rival protocol somewhat reveals the purpose of all this FUD.
At the time of writing, the BTC price is finding buyers at $29,800.
