Bitcoin Scaling Solution Lightning Network Releases Milestone Implementation
The Lightning Network Daemon (lnd) has released vo.1-alpha, calling it a milestone as Lightning’s most feature-complete implementation, ready for public testing, the Lightning Network Community blog announced. The implementation is able to open and close channels with peers, maintain a fully authenticated and validated channel graph, fully handle all cooperative and non-cooperative channel states, conduct pathfinding within the network, passively forward incoming payments, and send outgoing onion-encrypted payments through the network. Golang. The lnd code base was built using Go, a....
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The Lightning Network is a design improvement for Bitcoin that could allow users to make micropayments in a decentralized manner and help the entire network scale more efficiently over time. While this proposal has received a large amount of attention in the Bitcoin community, there is another, similar option currently in development by C. J. Plooy. Plooy recently gave a presentation on his alternative implementation, Amiko Pay, at Scaling Bitcoin Montreal. During his talk, Plooy noted:"If you look at the basic design of the Lightning Network -- a network of payment channels. This is....
While bitcoin has run-up to all new price highs in 2020, a great number of crypto supporters have been complaining about the mempool backlog and the high fees needed to send a transaction. Meanwhile, the Lightning Network is far from seeing widespread adoption, and a number of attack vectors have been revealed this year. At the time of publication, the Bitcoin (BTC) mempool (backlog of transactions) shows 113,000+ unconfirmed transactions and the backlog hasn’t been this high since 2017. When the bull run took place three years ago, transaction fees and unconfirmed transactions shot....
BlueWallet’s new mobile-focused Lightning implementation based on the Lightning Dev Kit brings convenient features to its users.
For the vast majority of Bitcoin Core contributors, the Lightning Network is viewed as the best option for scaling Bitcoin to many millions of new users. But the system has not yet been implemented on the Bitcoin blockchain, which has left many to wonder whether it is wise to put so much hope and reliance behind an untested solution. At a recent event at the Coinbase offices in San Francisco, Lightning Network creators Joseph Poon and Tadge Dryja gave a presentation on their design for scaling Bitcoin via a generalized network for payment channels. During their talk, Dryja and Poon....
Lightning has seen major growth as Bitcoin’s medium of exchange scaling solution, but is still in its infancy stage as companies build on top of the protocol.