How The Lightning Network Could Enable A More Decentralized Web
The peer-to-peer nature of the Lightning Network allows the building of functions that help decentralize the web.This is an opinion editorial by Kishin Kato, the founder of Trustless Services K.K., a Japanese company focused mainly on Lightning Network research and development.This is the third article based on the content of the “Understanding Lightning” report produced by the Diamond Hands community, the largest Lightning Network community in Japan. The report aims to provide an overview of Lightning’s technology and ecosystem for a non-technical audience. The first article can be found....
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Lightning networks are considered a promising innovation in the Bitcoin space, which would make the Bitcoin system much more scalable and able to process transactions at a high rate and low cost, and are suitable as an alternative to existing payment networks. In February, developers Joseph Poon and Thaddeus Dryja proposed a decentralized Bitcoin Lightning Network where related transactions can take place instantly on "micropayment channels" off-chain, and only the final settlement is processed by the blockchain. According to the authors, lightning networks would enable Bitcoin....
The firm has built a new protocol called Taro to enable stablecoins to be sent and received on the Bitcoin Lightning Network. Bitcoin software firm Lightning Labs has secured a large funding round enabling it to further develop the Lightning Network for faster, cheaper Bitcoin and stablecoin transactions.The $70 million Series B funding round was led by Valor Equity Partners, with participation from Baillie Gifford, Goldcrest Capital, and several other angel investors. Lightning Labs builds additional features and software for the Lightning Network (LN), Bitcoin’s layer-two transaction....
Bitcoin Suisse, Switzerland’s biggest BTC broker, has now made Lightning Network technology available for its crypto payment system. Bitcoin Suisse will use the Lightning Network to make Bitcoin (BTC) transactions both cheaper and faster. It will be the first cryptocurrency payment processor in Switzerland to integrate the technology, according to a press release dated Tuesday.Armin Schmid, head of Bitcoin Suisse Pay, praised the decision, noting that Lightning transactions will play a significant role in scaling crypto apps and driving mass adoption.“Lightning transactions enable higher....
The Lightning Network is one of the most bullish developments that the Bitcoin ecosystem has seen so far. And all the available metrics point up, a healthy and vibrant network is brewing. However, investor Kevin Rooke took a deeper look and found out that the Lightning Network is probably even bigger than previously thought. “Inaccurate comparisons and privacy preserving features make it hard to truly understand how big the Lightning Network is.” Related Reading | Bitcoin Lightning Network Reaches Record Capacity What does Rooke mean by that? Let’s find out. The Lightning Network By....
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....