Lightning Strikes: An (Early) Version of One of Bitcoin's Big Scaling Solutions is Finally Here
Developers can now test an early version of bitcoin's much-hyped Lightning Network. Released by one of the most prominent startups working on the open-source micropayments protocol (San Francisco-based Lightning Labs), the daemon runs on the bitcoin testnet, so it's not exactly for average users yet. Rather, the aim is for developers to get their feet wet testing the off-chain transactions, long heralded as one of the best ways to rapidly scale the network, (and it looks like some have already started). Speaking to CoinDesk today, the Lightning Labs team called the release the “most....
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An early version of Lightning Network, a layer two Blockchain technology, is now available for testing on Bitcoin’s testnet. With so much expectation on this latest iteration to scale the underlying Blockchain technology one may ask how does it work in practical terms and will it be able to deliver? In other words, when will Lightning strike? Go for a party. The easiest way to explain the principles behind Lightning is the working example below when we go for a drink in a bar. So let’s go and party. We go for a drink in a bar and I hand over my Bitcoin Card. The barman as merchant uses to....
Long-awaited layer two scaling is finally being launched on Uniswap v3, albeit in a limited format initially. The long-awaited layer two scaling solutions upgrade for Uniswap has finally been spotted in the wild with the launch of version 3 on Optimistic Ethereum.In a post on July 13, the world’s most popular decentralized exchange stated that it was pleased to finally announce the alpha launch of Uniswap v3 on the Optimistic Ethereum (OΞ) mainnet.The alpha launch is a limited version of the full system which helps developers deploy the system gradually and address any issues that may....
The rise of The Lightning Network is one of the most important stories of the year. On its back, El Salvador could adopt Bitcoin as legal tender. Bitcoin Beach’s implementation of The Lightning Network served as a use case that showed that it could be relied on. And then, a whole country uses it daily. […]
With mass adoption comes the risk that cryptocurrency may lose one of its core value propositions: decentralization. This is the year cryptocurrency finally starts to break into the mainstream. From Elon Musk and Tesla investing in and accepting Bitcoin (BTC) to the recent nonfungible token craze, the days of blockchain tech being the domain of cypherpunks and coders are behind us.Still, the technology has not quite advanced to the stage where the average person will feel comfortable using it. And the longer the usability of cryptocurrency takes to reach the level where it connects with....
The founder of Lightning company LNPay.co discusses how his API service helps businesses integrate Lightning