I do not suppose LN could be very a lot linked to ElementsProject. Someway they’ve related intent: scaling bitcoin. Nonetheless they do it in very other ways.
Parts is a federated sidechain, a by some means full blockchain that bases elements of its safety to a federation of entities that create blocks that pegs to the bitcoin blockchain every so often. Being a separate blockchain, it might probably help various things than bitcoin: confidential transactions, property, simplicity script, and many others. Furthermore, since blocks are created by the federation and there’s no mining, blocktime generally is a lot shorter (~1s), which results in low charges and quick settlement.
Lightning Community as an alternative doesn’t depend on considerably trusted entities to scale bitcoin. It goals to construct a fee channel community as a layer on high of bitcoin, counting on it only for the settlement of controversies. It really works by some means nicely, nevertheless it brings in fairly a little bit of complexity and it adjustments a bit the safety mannequin we had been used with on the bottom layer. To maintain funds protected, a LN node must be “all the time” on-line or to delegate to exterior entities (referred to as watchtowers) the job to control the blockchain to guard your funds.
Curiously, there’s a good mission beneath improvement that goals to bling most of Ingredient’s particular performance on high of naked bitcoin and LN by means of the idea of client-side validation. Yow will discover one thing extra on RGB right here and right here
