How a French Startup Put Bitcoin's Lightning Network to the Test
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....
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....
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....
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.....
With Bitcoin's Lightning Network nearing launch, the number of tests seeking to upgrade the micropayments network is on the rise. Now, industry startup Colu has unveiled a demo of how Lightning could be made compatible with colored coins (a technology that enables small amounts of bitcoin to represent other assets, such as the US dollar, stocks, or even houses or cars). Mashing this concept together with Lightning could mean more of these transfers at a higher speed. Users can now send test transactions over the so-called "off-chain" network using Colu's demo, which perhaps....
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.....