Over the past couple of weeks, the Lightning Network has been a topical discussion. Now, this week, a few developers building Lightning implementations from a few different projects have released information on the protocol’s current progress.
Lightning Network Passes 72 out of 75 Compatibility Tests
The Lightning Network is a scaling solution that has been worked on and discussed for a few years now. The protocol’s white paper written by, Thaddeus Dryja and Joseph Poon, creates an off-chain system by forming a network of payment channels. The technology takes it a step further because funds are not entrusted to a third party. Essentially the Lightning Network (LN) can theoretically scale bitcoin by allowing thousands of transactions a second without compromising the trustless nature of bitcoin. This year and more recently over the past three months, a lot of people have been building and testing LN projects. For instance, software developer Christian Decker revealed testing results for three Lightning implementations to see if they could cooperate. According to Decker’s findings, 72 out the 75 tests passed.
LN Protocol Interoperability and Making Purchases With Bitcoin’s Mainnet
Additionally, on December 6 the co-founder of Lightning Labs, Olaoluwa Osuntokun (Laolu), demonstrated multi-hop payments utilizing three different LN protocols. The trial was tested on Bitcoin’s mainnet and marked the very first time a multi-hop, cross-implementation payment was made on the live blockchain. Laolu and co-workers used the LN implementations to purchase a coffee and a yalls.org article…