BitFury Lightening Network Successfully Tested with French Bitcoin Company
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....
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ACINQ, a French startup that develops bitcoin products, successfully tested the Bitfury Group’s payment routing solution called Flare on the Lightning Network, according to an ACINQ press release. The test bodes well for addressing the bitcoin scaling challenge. Bitfury Group’s white paper in July 2016 described the specifications for an algorithm to spur additional academic progress. ACINQ used these specs to code a payment routing algorithm and tested it with 2,500 AWS nodes. ACINQ found the Flare algorithm could locate a payment route in around 0.5 seconds with an 80% probability.....
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....
Bitcoin mining giant BitFury has announced it has completed the manufacturing of its anticipated 28nm ASIC chip. BitFury first revealed the development of the chip in the fall of last year, at the time raising $20m in funding for the project from investors including venture capitalist Bill Tai, current BitFury board member and former VeriFone CFO Bob Dykes and the Georgian Co-Investment Fund. CEO Valery Vavilov sought to frame the announcement as part of BitFury's overall drive to keep chip efficiency in line with the rising difficulty of the bitcoin mining network, calling the chip the....
Blockstream successfully tests Lightning payment protocol on Bitcoin blockchain. The Bitcoin Lightning micropayments protocol has successfully passed the test. The protocol was tested recently by researchers from Blockstream, a company contributing towards the maintenance and development of Bitcoin Core protocol. People from across the world are increasingly using Bitcoin as a medium of value exchange and storage. This has led to a sharp rise in the number of transactions being processed by the Bitcoin blockchain on a daily basis. As the community continues to grow, the Bitcoin network....
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 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....