Bitfury Releases Proposal for Bitcoin Lightning Micropayments Routing
Bitfury Group, in collaboration with the open-source Lightning Network community, has released a white paper that explores how the in-development micropayments protocol could more effectively route bitcoin payments between users when launched. Long an outstanding question facing the Lightning Network, one of the more acclaimed proposals aimed at scaling the bitcoin network to accommodate higher transaction volumes, the 40-page white paper introduces a new routing system it calls Flare, which employs a hybrid of existing strategies for path discovery and selection in decentralized systems.....
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Bitfury just announced a white paper, in collaboration with Olaoluwa Osuntokun and others from the Lightning Network team, proposing a new algorithmic solution to Lightning Network’s routing problem. A hybrid routing algorithm is proposed which, according to a press release, ensures that “routes can be found as quickly as possible.” According to the whitepaper the algorithm uses a “proactive update of the node’s routing table,” and a “reactive collection of information based on a routing request,” allowing for connections between any payment channel. The whitepaper states that the hybrid....
Bitfury Group has recently introduced a 40-page white paper, which proposes a routing solution for the Lightning Network (LN). Dubbed “Flare,” the concept is an approach to payment routing that involves nodes gathering data concerning the LN topology. The researchers performed tests with the routing algorithm and found it to be scalable with at least....
French Bitcoin technology company ACINQ has successfully tested and implemented leading Blockchain technology company Bitfury’s algorithm solution for instant payments routing on the Lightning Network. Bitfury’s Lightning Network-based algorithm solution Flare was introduced in July 2016 in collaboration with the Lightning Network team, with the vision to deploy a hybrid routing algorithm, The objective and intention behind the creation of Flare was to establish a more efficient and improved ecosystem for the settlement of microtransactions in the Bitcoin network. The BitFury development....
A lesser-known startup has successfully tested an important piece of bitcoin's scaling puzzle. Widely considered to be the best way to boost bitcoin's transaction capacity, the Lightning Network proposes a way to execute the majority of bitcoin transactions without involving the blockchain or compromising the network's decentralized architecture. But, as a relatively new proposal, it's still very much a work in progress. That's one reason why recent tests completed by a French company called Acinq have generated so much excitement. Inspired by a white paper released by bitcoin mining firm....
Bitfury’s new payment routing algorithm (known as Flare) has been implemented on the Lightning Network following a successful test period by French startup ACINQ. The idea stems back to July of this year, when Bitfury released a white paper discussing the algorithm and what would be needed to grant it successful, “lightning-fast” integration. ACINQ then spent time testing the algorithm with approximately 2,500 AWS nodes, and discovered that payment methods were typically found roughly within .5 seconds about 80 percent of the time. The algorithm is slated to be fast, effective, and likely....