Lightning Network Wiki Page Faces Removal for Lack of Notability

Lightning Network Wiki Article Faces Removal for Lack of Notability

A slew of Wikipedia editors would like to delete the Lightning Network (LN) Wiki page because the subject matter does not hold notability. Wikipedia editors use notability as a test to find out if a topic warrants its own article. The LN article debate on Wikipedia is still raging as a few editors believe the subject is “dredging for mainstream press coverage” while highlighting that the article does not have reliable third-party sources.

Also Read: Mainstream Investment Vehicles Tied to Cryptocurrencies Grow Exponentially

Lightning Network Wiki Article Questioned for Notability and Sourced Content

The controversial LN scaling solution for BTC is being discussed on Wikipedia because a group of Wiki editors would like to delete the Lightning Network article for lack of notability. The discussion among Wikipedia contributors shows there’s a disagreement about the validity of the LN article. “There is a problem with notability of the subject: the citations in the article refers to self-published texts that are not acceptable for notability,” explains the editor Ladislav Mecir. “Other sources found also do not qualify as significant coverage by sources independent on the subject,” Mecir added. A few people came to the LN article’s defense and said that they think that the LN page “is sufficiently notable for WP.” “It’s fair to say that it’s one of the most important initiatives in the Bitcoin ecosystem and seems to be the only viable path for Bitcoin,” Wiki contributor ‘Jimd’ wrote.

Lightning Network Wiki Page Faces Removal for Lack of Notability

Another editor who wants to pull the entire subject from Wikipedia said he finds it difficult to take any press coverage of the LN project seriously. He further said that the ‘Bob and Carol’ explanation within the article is a better example but “still laughable.” “I’d prefer to get rid of the whole lot — Ultimately it looks like many people are having the wool pulled over their eyes by a few crooks who claim the impossible — There’s no reason for Wikipedia to get involved at all.”

Another contributor said that the subject may be best suited for a broader article on consensus-less decentralized payment systems. The editor further added that the LN project would be near the bottom of the list as the project is not “Bitcoin-specific but could be used with a multitude of systems.” During the LN article deletion debate, an editor named ‘Jtbobwaysf’ said that [Wikipedia] doesn’t “remove old dead subjects.” “They are useful from a historic perspective — Also think your suggestion of a broader article would be nice, maybe we can do that when there are some other similar networks on Ethereum, etc.,” Jtbobwaysf wrote. “Or maybe they will later all be referred to as Lightning if that becomes the common name.”

Lightning Network Wiki Page Faces Removal for Lack of Notability

Greg Maxwell: ‘LN Article Has a Fringe Chance of Removal’

After this comment, Bitcoin Core and Blockstream developer Greg Maxwell stepped into the conversation. Maxwell is well known for contributing to Wikipedia but some Wiki contributors have called him an editor who “regularly makes personal attacks.” Maxwell believes the LN article should be kept and told Jtbobwaysf that “Lightning is very much not dead.”

“My only point there was that effort debating the boundary of cryptocurrency notability would be better spent on things that weren’t close to obvious keeps,” Maxwell remarked.

Lightning Network Wiki Page Faces Removal for Lack of Notability

The debate continued with a few more editors throwing in their two cents about the LN article on Wikipedia. It seems a good portion of the contributors believe the sources used in the article were not up to standards. Throughout most of the commentary, there were issues about the validity of sourced content. Besides the source problem, an editor named ‘Kjerish’ believes that the LN subject “has enough notability as a data structure alone.” “The subject potentially applies to several chains (not just Bitcoin),” the editor added. After the news spread about Wikipedia editors discussing deleting the LN page, a few crypto influencers spoke about the subject on social media.

Lightning Network Wiki Page Faces Removal for Lack of Notability

“Go ahead, delete it,” tweeted Casa CTO Jameson Lopp. “The Wikipedia page for Bitcoin was deleted in July of 2010 and it wasn’t a big deal — It ended up being restored 6 months later.” When someone posted about the subject on r/bitcoin, Greg Maxwell told the creator of the thread not to “spam this sort of thing” on the Reddit forum. “Wikipedia is exceptionally unlikely to remove this article, and in the fringe chance it were removed it would only be merged into some bigger article,” Maxwell stressed. Instead of discussing the subject further the Redditor said: “All right, deleted the post.”

What do you think about the Wikipedia editors who would like to see the Lightning Network article removed for lack of notability? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Twitter, Wikipedia, and Fair Use.

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24K Casino Adds Ethereum

24K Casino Adds Ethereum

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Lagarde Sees Demand for Stablecoins, Plans to Put ECB ‘Ahead of the Curve’

Lagarde Sees Demand for Stablecoins, Plans to Put ECB 'Ahead of the Curve'

At her first press conference as head of the European Central Bank (ECB), Christine Lagarde outlined her plans to lead the ECB “ahead of the curve” in the field of digital currency. “There is clearly a demand out there that we have to respond to,” she said, referring to stablecoins.

Also read: Regulatory Roundup – Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency

Lagarde’s Plans to Put ECB ‘Ahead of the Curve’

New European Central Bank (ECB) President Christine Lagarde talked about her digital currency plans while explaining other monetary policy decisions at her first news conference as head of the ECB on Thursday. The press conference followed a meeting of policymakers in Frankfurt where the topic of central bank digital currencies was reportedly discussed. In answering questions regarding the Eurosystem’s digital currency, Lagarde said:

My personal conviction is that given the developments we are seeing, not so much in the bitcoin segment, but in the stablecoins projects … we had better be ahead of the curve if that happens. Because there is clearly a demand out there that we have to respond to.

Regarding stablecoins, she also noted: “we only know of one at the moment but there are others being explored and underway.” While the new ECB chief did not name the stablecoin she was referring to, an ECB Occasional Paper Series report published in August entitled “In search for stability in cryptoassets: are stablecoins the solution?” discusses a number of stablecoins including Facebook’s libra, tether, and nubits.

Lagarde Sees Demand for Stablecoins, Plans to Put ECB 'Ahead of the Curve'

Lagarde also revealed that the ECB has set up a digital currency task force and will accelerate its digital coin efforts, drawing on research by the eurozone’s central banks that have spent resources on studying central bank digital currencies (CBDCs). She proceeded to outline her plans.

“We will identify number one the purpose that we have with that,” the former International Monetary Fund (IMF) chief explained. “Are we trying to reduce cost? Are we trying to cut out the middleman? Are we trying to have inclusive finance at no cost? There’s a whole range of objectives that can be pursued. So I think we will start by doing that.” Next, she elaborated, “we will identify the technicalities of it all, which is not a given, particularly when you talk about the Euro system.” The new ECB president concluded:

I think we’re trying to do that by mid-2020.

Lagarde Sees Demand for Stablecoins, Plans to Put ECB 'Ahead of the Curve'

ECB’s Own Digital Currency

The ECB has also reportedly been looking into the prospect of issuing its own digital currency that would give the holders direct claims on the central bank. Several countries have similarly increased their efforts in this area following the announcement of the Libra project in June by Facebook, which was met with resistance from many regulators. The European Council and the European Commission jointly issued a statement last week stating that “no global ‘stablecoin’ arrangement should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been adequately identified and addressed.” Furthermore, the ECB indicated last week that it will develop its own digital currency if the private sector cannot make cross-border payments faster and cheaper.

At the aforementioned press conference, Lagarde also talked about the Eurosystem’s existing digital payment frameworks: TIPS (TARGET Instant Payment Settlement) and PEPSI (The Pan European Payment System Initiative). “We have several items that are completely digitalized that are not at the front end, and that the bank’s clients do not perceive as being in operation,” she asserted. “They deliver in digital terms the operations of clearing and settling, sometimes in one single operation,” she added, emphasizing that through these systems, “settlement and clearing are actually taking place instantly.” Noting that some countries are not using the systems, she affirmed that she “will continue to push” for their usage.

Lagarde Sees Demand for Stablecoins, Plans to Put ECB 'Ahead of the Curve'

Progress on Central Bank Digital Currencies

Several countries worldwide have been studying the prospect of introducing their own central bank digital currency, as news.Bitcoin.com previously reported. China, for example, has said several times that it is working on a digital yuan. While the People’s Bank of China (PBOC) said that there is no timetable for issuing one, there are reports that the Chinese government is preparing to test its digital currency.

“I think there is also great interest outside our regional area. I know for instance that Canada, the U.K., other countries way beyond are certainly looking deeply into that to see if it makes sense, what purpose it serves and how we can best deliver on it,” Lagarde said at the Thursday press conference. Bank of England Governor Mark Carney has suggested that a global central bank digital currency might replace the dollar as the international reserve currency one day. Last week, the British Virgin Islands reportedly unveiled some details of its digital currency to be pegged 1:1 against the U.S. dollar for use within the territory.

However, some countries do not see the benefits of issuing their own central bank digital currencies just yet. In the U.S., Federal Reserve Chairman Jerome Powell and Secretary of the Treasury Steven Mnuchin said that they do not see a need to create a digital dollar, at least for the next five years. Nonetheless, the Federal Reserve is studying the costs and benefits of issuing one. The Bank of Japan has recently released a study on the legal impact of such currency but concluded that the bank is not looking to issue one currently. South Korea is another country that is taking a wait-and-see approach.

Do you think Lagarde will be able to lead the ECB ahead of the curve in the crypto space? Let us know in the comments section below.

Images courtesy of Shutterstock and Reuters.

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