KB Topic Lightning Network

Understand the Lightning Network
What is the Lightning Network? Why is it being talked about so much? Here's a brief intro to this new development in the Bitcoin ecosystem and how you can use it to your advantage. Bitcoin's blockchain and the tokens exchanged via this chain, Bitcoins themselves, are what we call the first layer of this cryptocurrency. The blockchain and the mining guarantee the integrity of the Bitcoin network. What if we could go beyond the simple exchange of coins using the Bitcoin blockchain? What if second layer ...

Lightning Network (XBO) ICO Rating, Reviews and Details | ICOholder Select widget Notification icon
Lightning Network develops multi blockchain platform with unprecedented transaction speed. We are building world's fastest blockchain platform which natively implements Bitcoin Lightning Network Protocol & Ethereum Plasma Framework. With fast transaction speed over 1 million transactions per second, with potential of reaching billions of transactions per second, low transaction fees, and its Bolt cryptocurrency, Lightning Network is set to overtake Visa/Mastercard and become the dominant global payment network. World's Fastest Blockchain Platform Bitcoin Lightning Network Protocol supports instant off chain micro payments, while Ethereum Plasma Framework enables child chains to be pegged to root blockchain.

Sideshift App Demonstrates a Trade Between Lightning Network BTC and Tether
Back in October news.Bitcoin.com reported on the influx of development tied to Drivechain, a project initiated by software developer Paul Sztorc. At the time we also covered the project's extension applications coded by the programmer Andreas Brekken. One of those applications Brekken conceived allowed any Drivenet coins to be swapped between any blockchain protocol. On Friday, an application called Sideshift.ai was used to demonstrate a bitcoin core (BTC) to tether (USDT) swap using the Lightning Network. Also Read: A Look at Some of the Next Generation Bitcoin Mining Rigs Available Today Jan. 11 saw a demonstration of Sideshift.ai, an application that allows users to swap cryptocurrencies between chains. Sideshift was first revealed last year by Andreas Brekken among the suite of applications he created for the Drivechain project. Brekken is the chief executive officer of the review site Shitcoin.com and the infamous coder who once held the most BTC ($220,000) on the Lightning Network last year. The Sideshift platform allows people to convert coins for a small fee with a processing time of under five seconds.

Buy with Lightning almost as popular as buy with Ethereum and Litecoin, BTC 5 times bigger than ETH
Bitcoin turns 10 today. On January 3rd, 2009, the first genesis block was mined by Satoshi Nakamoto. Since then Bitcoin has come a long way. From being a fascinating technology for cyberpunks to be in a position to replace the current financial institutions. Bitcoin has seen a fair amount of issues, from scaling issues to price issues. Lightning network, the off-chain solution to scale Bitcoin has received a huge amount of backlash too. Influencers such as Roger Ver, Vitalik Buterin have publicly called it out saying it will never work?, it's too complicated etc. But Google Trends search shows an increase in Lightning related searches. Google Trends findings show that the search query of buy with lightning network is increasing in volume, in fact, it is at par with buy with Ethereum or buy with Litecoin. One of the reasons for the above is merchants adoption of Lightning network is increasing due to Lightning network being integrated by the payment service providers.

Crypto Artist Sells Tiny Artwork for $0
A cryptocurrency artist going by cryptograffiti has recently sold a tiny piece of artwork in an auction made to promote bitcoin, the flagship cryptocurrency, and its second-layer scaling solution, the Lightning Network (LN). According to a recently published Reddit post, cryptograffiti revealed he sold his piece of artwork that measures 1.44 x 1.75? for the lowest bid received of one milisatoshi, currently worth about $0.000000037. The artwork is a black swan made out of fiat and a counterfeit detector pen. black swan is here! watch the vid to try and catch him...#cryptoart #bitcoinart pic.twitter.com/7BfcDeyNJ3

Bitcoin Lightning Network Triples Capacity Since November
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Bitcoin's Lightning Network (LN) Capacity Increases to New All-time Highs - Ethereum World News
The development of Lightning Network has not ceased despite the limited coverage it has received in recent days; however, the community of users and developers not only remains active but quite optimistic about this project that each day is closer to becoming a reality. In addition to growing in terms of technological evolution, Lightning Network has shown in recent days an accelerated growth in terms of adoption by users and end consumers. According to data from the website 1ML  The network capacity has experienced an increase of almost 300% in the last 30 days, handling near 2 million dollars in transactions.

What is the Lightning Network - CoinDesk
Hailed as one of the most potent solutions to cryptocurrency scaling currently under development, the lightning network effectively creates a layer on top of bitcoin, enabling fast and cheap transactions which can net settle to the bitcoin blockchain. Proposed by Thaddeus Dryja and Joseph Poon in a 2015 white paper, the idea is based on a network that sits on top of the bitcoin blockchain, and eventually settles on it. The network is comprised of user-generated channels that send payments back and forth in a secure and trust-less fashion (trust-less means that you don't need to trust or even know your counterparty).

Builders on Wall Street: Bitcoin Devs Host Lightning Hack Day
It was described as not a normal conference. Sure, speakers took to the podium to present their futuristic ideas a staple at the cryptocurrency space's many, many conferences. But the Lightning Hackday, which took place in the heart of Wall Street on October 27th and 28th, was all-in-all more of a community-led endeavor with a heavy coding twist. Throughout the two-day event, a hackathon whirred in the background. Tiny computers called Raspberry Pis dotted the tables and developers murmured amongst themselves about how to tweak the rules of the system while also not disrupting the incentive schemes.

This Electric Bike Runs on Lightning Network Bitcoin Micropayments
Matthias Steinig, a German developer whose focus seems to be on the development of Lightning Network-enabled technologies to serve consumers, has created two projects to date which are notable and Lightning-related. The first is an e-commerce solution which supports Lightning transactions in the traditional web store format. A demonstration of it is live here. The second is perhaps more interesting and certainly more novel: a rentable electric bicycle that allows the user to pay for boosts (wherein the electric motor kicks in and the cyclist can do less work) for tiny amounts of bitcoin. Steinig announced his invention on Twitter recently and published the code on GitHub.
November 04, 2018 12:27 AM


An Introduction to Lightning Network Apps (LAPPs): Scaling Bitcoin
Unbeknownst to a majority of crypto-enthusiasts, one of the most exciting features of the recently-implemented Lightning Network is one of the least discussed: the ability to build decentralized-like apps (known as Lightning Network Apps or LAppps) on top of the Lightning Network mainnet. But Bitcoin isn't turing-complete & doesn't have smart contracts No matter. Due to brilliant off-chain implementations via the Lightning Network, the day has arrived where the Bitcoin blockchain supports decentralized apps; this is due mainly to the innate infrastructure of multi-signature, off-chain transactions through LN's payment channels.
September 13, 2018 8:35 PM


At 100 BTC And 12k Channels, The Lightning Network is Larger Than Ever - Bitcoinist
Reading: At 100 BTC And 12k Channels, The Lightning Network is Larger Than Ever Wilma Woo | Sep 04, 2018 | 12:00 Wilma Woo | Sep 04, 2018 | 12:00 The Lightning Network for Bitcoin became bigger than any time in history this month as capacity reached 100 BTC ($730,000) in a new first. Data from monitoring resource 1ML confirms the milestone, which caps an extraordinary period of growth for Lightning over the summer months. Currently, 3350 nodes and over 12,000 channels contribute to a total network capacity of 101.7 BTC. The node count has increased 11 percent in the past 30 days, with capacity and number of channels expanding 4 percent and 7 percent respectively.
September 04, 2018 3:00 PM


Latest News on Lightning Network | Cointelegraph
The Lightning Network is a payment protocol that works as a second layer on top of a blockchain. A large number of those in the cryptocurrency community suggested Lightning Network as a fix to Bitcoins scaling problem. The Lightning Network opens a payment channel by setting up a multisignature wallet that holds some amount of cryptocurrency, and then a savings wallet address in the blockchain. Having a payment channel, parties can make an unlimited amount of transactions that are not made public in the blockchain. After all planned transactions are completed, the resulting balance is saved in the blockchain and parties can recover their share of the wallet. You can also use other payment channels or multiple channels to reach your partner, with the network finding the shortest way. Lightning is not as secure as the blockchain itself, but it may be widely adopted for small transactions, and it will reduce the strain on the blockchain, making it more scalable.

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