“Lightning Network” will occur to Bitcoin from tomorrow

Lightning Network transactions

Reports are suggesting that from tomorrow Lightning Network transactions will be available for Bitcoin.

In last two weeks when SegWit locked in for the Bitcoin network, Lightning offers remarkably faster and low-priced transactions for more users. Therefore, it might appear sooner than planned.

Tweeting this precise rumor as yet insured information, Ferdous commentator said that ‘Layer 2’ technology would be obtainable from tomorrow i.e., Tuesday.

He also clarified for users that the movement “unreliable imperative nearly zero-fee transactions,” “scaling to billions of users” and “thousands of new apps”.

“What does it mean for you? TL; DR:

1) Trustless instant nearly zero-fee transactions

2) Scales to billions of users

3) Thousands of new apps

— Ferdous (@ferdousbhai) August 20, 2017”

The technology powering Lightning is in the beta testing mode along with Blockstream tested first with Litecoin transactions in May.

Gavin Andresen, ex-Bitcoin Core developer estimate the associated ecosystem would be “highly centralized” once operational was “OK”.

Adam, Blockstream CEO, recently revealed that he had held talks with Bram Cohen, BitTorrent CEO, relating potential integration of Lightening micro-transactions into the platform.

Meanwhile, the introduction of Lightening marks a major milestone in the Bitcoin network’s journey. Therefore, it is all concerned about the inferences of a second hard fork in the form of SegWit2X.

Show More

Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

eleven + seven =

Back to top button