To Test The Lightning Network, CNBC Sent BTC To A Ukranian In Poland. The Res...
Mainstream media, CNBC to be exact, experienced the power of Lightning. The article’s snatchy title says it all, “We sent bitcoin from Miami to a Ukrainian in Poland who withdrew it as cash, all in less than three minutes.” The recipient was Alena Vorobiova and her face at the end of the video also says […]
Related News
Progress on the bitcoin lightning network continues to advance. Following a promising trial of its routing network last week by French startup Acinq, Montreal-based Blockstream has announced that it has sent the first end-to-end transaction over the Lightning Network, a highly-anticipated top layer for the bitcoin network designed to boost transaction capacity. What the team called "Lightning's first strike" saw its developers send a transaction across a test version of the network successfully to another party, a process that included invoicing that party for bitcoin and routing....
Bitcoin’s layer 2 scaling solution, the Lightning Network, has seen payment volume increase by over 400% as real adoption grows. A new report highlights how the Lightning Network has grown in popularity as a way of transferring digital assets quickly and efficiently around the globe. CNBC today told the story of Alena Vorobiova, a Ukrainian refugee currently seeking sanctuary in Poland. Vorobiova used Lightning to transfer $100 worth of Bitcoin from Miami, where it was then withdrawn from an ATM in the equivalent Polish currency — all within the space of three minutes. That’s the sort of....
The end-to-end Lightning micropayment transaction test shows to the Bitcoin community that it is possible to perform payments on a public Blockchain, says Christian Decker, a developer with Montreal-based Blockstream on the significance of the exercise. Decker says: “The test has uncovered a number of bugs, that were quickly fixed, and has shown that it is indeed feasible to perform payments on a public Blockchain.” Blockstream had announced that it sent the first end-to-end transaction over the Lightning Network to another party through a process that included invoicing a party for....
Lightning Labs, one of the prominent companies working to realize the lightning network, announcedthis week the alpha release of the open-source lightning daemon they've been spearheading: LND. While only compatible with Bitcoin’s testnet so far, the software is relatively feature-complete and operational. “We’re now looking for the wider community to test the software,” Joseph Poon, Lightning Labs developer and co-author of the lightning network white paper, told Bitcoin Magazine. “To get it ready for widespread use, but also to explore new use cases this enables.” The Lightning Network.....
Readers may remember our coverage of a Roger Ver interview from a few days ago where the veteran Bitcoiner and entrepreneur told Bitcoin Uncensored that Lightning Network was still untested and could take a long time to get off the ground. At the time, he was right. But this morning CCN can report that a successful test, using Bitcoin testnet coins, has been conducted by developers at Blockstream. In the test, the developers used an ASCII cat picture as a demo product. The developer below can be seen manipulating a combination of bitcoind and lightningd, the Bitcoin daemon and Lightning....