Bitcoin is in dire need of a proper scaling solution. While SegWit is already live, the adoption rate is incredibly poor so far. The Lightning Network is certainly something to look forward to in this regard. Unfortunately, no one knows for sure when this solution will come to the mainnet. Some big progress has been made this week, as the Lightning Protocol 1.0 seems operational.
To put this into perspective, a multi-client Lightning transaction was completed. This event took place on the main Bitcoin blockchain, which is a major development. It is the first time something like this happens. Bitcoiners have been waiting for this scaling solution for some time now. None of this means all Bitcoin issues will be resolved overnight, mind you. This is just a test which was successful, but that is all there is to it for the time being.
Lightning Network Comes one Step Closer
For the time being, Bitcoin users have to deal with the many issues. Confirmation delay and exuberant fees are the new normal even today. With the Bitcoin price dropping a bit, there will probably be even more transactions in the near future. Until Bitcoin scales, congestion will still be the new normal. It is an unacceptable situation for the world’s leading cryptocurrency, though, that much is certain…