There are multiple technological initiatives and device development moving around Bitcoin transactions. This is basically to make the transactions faster, secure, and cheaper to stream within cryptocurrency space. The latest joiner to the innovation is Spark!
About the announcement, the developer Nadav Ivgi tweets
⚡️ Announcing Spark: a minimalistic wallet GUI for c-lightning ⚡️
🎇 Simple & minimalistic 🎇 Purely off-chain 🎇 Desktop and mobile apps 🎇 Progressive Web App 🎇 Automatic TLS & Onion 🎇
Get started: $ npx spark-wallet -l /path/to/lightninghttps://t.co/ik7LPxFcEg
— Nadav Ivgi (@shesek) August 29, 2018
Spark is an offline wallet facilitating to send and receive Bitcoin via C-lightning technology. The Lightning Network is growing technology that allows faster transactions between nodes. However, this phenomenon is currently adding momentum being the advance of new technology.
The offline wallet is currently a new web-based GUI wallet app trending in the market. This wallet is compatible with Electron app especially for operating systems including Linux, Windows, and Mac OS. It is also compatible with the Android mobile app. Soon, Spark will announce the compatibility with iOS. This will be from an independent developer Nadav Igvi using c-lightning on its backend.
According to an article published on Medium entitles the announcement as “Spark: A new GUI for c-lightning.” Grubles writes,
With Spark, Bitcoins [coin price] are easily spent and received over the Lightning Network with a simple interface. A user can now run their fully validating Bitcoin node, their c-lightning node, and their own Spark GUI to use the Lightning Network as trustless as possible.
One exclusive feature of Spark states that users can actively perform off-chain Lightning Network transactions. The technical documentation of Spark outlines that the device is the entirely off-chain wallet.
The setup is all operating c-lightning node on the home server or on the cloud, which anyone can easily connect from remote areas via phone. The user’s phone doesn’t need to be online, however, the server fulfills. The server also promises to offer multiple wallets.
The features of Spark include:
- Simple interface
- Entirely off-chain Lightning Network transactions
- Using c-lightning as a backend
- About zero configuration
- Progressive Website Application
- Supports Cordova mobile and Electron desktop builds
- Customizable themes
- Automatic self-signing certificates
- LetsEncrypt integration
- Support for Tor hidden service (v3)
- Reproducible and Code-signing builds
What Does Spark Installation Need?
The basic requirements include:
- A device builds with Linux, Windows, Mac OS, or Android installation
- Little command line experience for Linux installation
- A running c-lightning instance
- Nodejs v6.0 or any new version
What Exactly Happens?
Bitcoin Lightning Network ensures the potential to support billions of transactions every second all over the network. One of the decentralized system where users can easily implement trustless micropayment channels. The user can perform as many payment transactions off-blockchain as they want.
Transactions happen within the channels occupying off the blockchain. After the completion, transactions get broadcast, being a single transaction, to the blockchain. Once the transaction channel is closed, the completed transactions are transcribed onto the Bitcoin blockchain.
The Bitcoin Lightning Network continually expand with the process happening. According to the information by p2sh.info, at the time of writing, Lightning Network boasts around 11,575 channels, 3,288 public nodes, with network ability holding around 93 Bitcoins $7035.06 +0.2%.
Currently, three firms are building Lightning Network into a functionality specification named lightning-RFC or “BOLTS.” These three firms are operating on their own implementation. However, Lightning Labs works hold lnd, on the other side, ACINQ holds Eclair. Blockstream holds c-lightning, which Spark is using as a backend.
Here is a demo video for you! Check it out!
Do you think these new technological innovations can help to solve the scalability issues related to Cryptocurrency? Connect with us via Twitter and Telegram; share your experience if you have used any of the new technologies.