Lightning Network: six months of developments to scale Bitcoin | CriptoNews

Lightning Network: six months of developments to scale Bitcoin | CriptoNews

Blockstream has been one of the most active teams: through the use of c-lightning, and its micropayment processing system Lightning Charge, They made the premiere of several applications of LN, baptized as Lapps. During the last week of March, the team released 7 applications for LN.

 https://i0.wp.com/blockstream.com/images/blog/bitcoin-bearwhale.png ? resize = 688% 2C475 & ssl = 1 "width =" 688 "height =" 475 "/><noscript><img src= This is what the FileBazaar interface looks like. Source: Blockstream.

This week they called it The Lapps Week. The presented applications were: FileBazaar, Lightning Publisher, Nanotip, Paypercall, Nanopos, IFPAYTT and Lightning Jukebox. Each tool was designed with different objectives ranging from a platform for the exchange of creative content, as well as a tool for tips, to a music player.

The team has also advanced in technical aspects, advancing the development of tools that could solve some of the difficulties posed by the implementation of Lightning Network, especially associated with problems that could occur before the registration of operations in the blockchain.

Thus, the company announced eltoo, a tool that tries to solve the possible problems regarding the update of the operations carried out in the payment channels in the main chain of Bitcoin. For this, the SIGHASH_NOINPUT indicator in the signatures is key, which has been described as "a minor change" in Bitcoin. SIGHASH_NOINPUT allows a transaction entry to bind to any transaction output with a matching script . Currently the Bitcoin developers advance a discussion on this topic in the development mailing list, showing openness to its realization. The proposal had the work of Christian Decker and Rusty Russell, of Blockstream, and Olaoluwa Osuntokun, of Lightning Labs.

As for Lightning Labs, in addition to LND, its developers have continued working. For example, Osuntokun and Conner Fromknecht presented the Multiple Atomic Route Payments (AMP), an important feature of the LN software that will allow payments to be made through the combination of the amounts of several user payment channels.

This possibility is open provided that the payment recipient is willing to claim all the HTLC (Hashed Timelocked Contracts) of these operations until the amount matches the total receivable. Recall that, for its operation, the LN scheme requires the receiver to provide a hash (unique identity) payment, which will be reused each time funds are sent to it. However, this reuse of hash could inhibit the realization of AMPs.

Developers plated a solution in 2 steps where no payment hashes would be reused in all payments combined, adding also a strong guarantee by which the recipient will not receive payment until all partial payment flows are executed in the corresponding payment channels.

Adoption of the protocol

Regarding the adoption of the protocol, Lightning Network has had a significant reception and some payment processors, cryptoactive portfolios or exchange houses have decided to test their own implementations of this network of micropayments in their services.

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Such is the case of Vaultoro, which recently became the first exchange house to implement LN. With this implementation the exchange house becomes the first exchange to adopt the beta protocol for its operations. This first implementation will allow Vaultoro users to send bitcoins instantly, economically and privately. Currently it has a limit of 100 satoshis.

The objective is that merchants who use this exchange platform can send their bitcoins in a cheaper way in milliseconds, and that, in the long run, they can take orders directly from the order book from their own wallets without having to place their funds in Vaultoro's hot wallets. To use this new feature of the platform, users should only have an Eclair wallet and their account in Vaultoro.

" This first implementation will allow Vaultoro users to send bitcoins instantly, economically and private . Our next goal is to allow people to take orders from the order book directly from their wallet, "the company explained.

For its part, the payment processing company Coingate announced the launch of a tool that will allow Interested traders test the LN micro-payment network for their transactions. Users will be able to buy a virtual coffee using Lightning Network at a trial store that bases its operations on the Lightning Network test network.

" We strongly believe that Lightning Network is the next major update of Bitcoin as a whole and, as a payment processor, we are excited about the possible impact it can have on Bitcoin as a currency ", explained the team's CMO, Vilius Semenas to CriptoNews. The company adopted SegWit and uses batching for its operations, assessing the positive impact of these implementations for the network and the potential transformation of Bitcoin into a daily exchange medium.

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