Thread by @RyanTheGentry

0/7 I just released a new post about the Lightning Network as a utility for Web3 development. Web3 has typically been owned by the non-Bitcoin community (ETH, DOT, etc.), but I argue here that LN brings it firmly back into BTC's domain.

multicoin.capital/2020/05/05/lig…

1/7 Multicoin defines Web3 as “the unbundling of data and application logic.” Rather than focusing on storing user data on a blockchain, LN takes an incremental step towards that vision: "strong decoupling of authentication and payment logic from application logic" h/t @roasbeef

2/7 This is fascinating to me. Web2.0 has been dominated by freemium business models with two tiers of users:
1) free and pseudonymous if you use Tor/proxies/etc.
2) paid, giving up your identity and data ownership

This given rise to the structural problems fueling Web3 interest

3/7 LN providing micropayments, self-sovereign authentication tokens, and a private, incentivized data layer adds a new tier:
3) pay-per-use, retaining your identity

This promises to allow brand new business models for developers, without requiring them to manage a token.

4/7 I'm incredibly excited to see how this ecosystem develops. My favorite tool to work with is Polar from @jamaljsr, check it out!

github.com/jamaljsr/polar

5/7 Thanks to @KyleSamani, @TusharJain_, @bennybitcoins, @johnrobertreed, @starkness, @jimpatterson, @paulitoi, @joostjgr, and @BuckPerley for reviewing drafts!

Thanks also to @nickgrossman, @brian_armstrong, and @cdixon for thought-provoking tweets that I included in the post.

6/7 If you're building a LN company, interested in investing in LN companies, or want to get involved in LN development, my DMs are open!

Also cited in the post were @lightning, @acinq_co, @Blockstream, @bitrefill, @bitfinex, @ln_strike, @EscherApp, @fold_app, @trylolli

7/7 @blockrizecard, @zebedeeio, @SatoshisGames, @jackeveritt, @sphinx_chat, @Tierion, @ShockBTC, and @JohnCantrell97.

Enjoy!