Blockchaintechnology appeared on the scene promising to revolutionize industries, upsetconventional institutions, and usher in a new era of transparency anddemocratization. It has demonstrated its potential in a variety of industriesover the last decade, ranging from finance to supply chain management.

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Decentralized Finance, often termed as DeFi, represents a paradigm shift in the traditional financial system. With the aim of establishing an open, permissionless, and inclusive financial infrastructure, DeFi leverages blockchain technology to eliminate intermediaries and offer financial services directly to users. It was Bitcoin, the original cryptocurrency, that sowed the seeds for this financial revolution

Over the past weekend, chaos broke out within the Bitcoin community after well-known developer Antoine Riard highlighted the presence of a backdoor in the code of the Lightning Network (LN) that could create serious damage to the security of the layer-2 network. The vulnerability has reportedly been hidden from the public by the Lightning Network development team since December 2022, fueling speculation about the intentionality of this flaw in the code. Meanwhile, advocate John Deaton, a supporter of the Ripple ecosystem, has suggested a viable alternative for spending Bitcoin in a P2P way without having to undergo the long wait times provided by the original network.