With the advent of the Protocol, payment network Lightning Network solved the scaling problem of bitcoin, which bitcoin began to lose relevance use as a payment instrument. Despite the effectiveness of the technology, it is still far from mass distribution.
Lightning Network allows to effectively solve the scaling problem of bitcoin, which was particularly relevant in late 2017 – early 2018. During this period the value of transactions in the network of crypto-currencies reached record levels. On the chart marked changes in the value of BTC transactions and a number of major cryptocurrencies:
The effectiveness of the Lightning Network has been proven its popularization in the commercial environment. A demonstration of the speed of payment solutions has become a vending machine for sale Coca-Cola created
Another example was providing customers with the opportunity to work with Lightning Network in payments from the company CoinGate. It should be noted that the aforementioned processing platform works with more than 4000 companies. Parallel to appear online and other news about the beginning of work with the LN-payments, but the rate of technology diffusion is still low.
We will remind, the first transaction using LN in the core network of Bitcoin was made by the developer of the service mobile accounts Bitrefill Alex Bosworth. In his specialist said that “speed was lightning, and the Commission at the same time – zero”.
The question of the number of nodes – if, as of March 13, 2018 there were about 1000, but today the number has grown to 1900 (with over 9500 of open channels).
In the meantime, continue testing the technology Submarine Swaps, the involvement of which may be the solution for payments between the addresses of the old format and chain Lightning. With its help it is planned to implement a transaction between the primary bloccano and addresses of Lightning. It is known that the main developer of the technology is Alex Bosworth.
Factors affecting the speed of propagation
The speed of introduction of the new payment Protocol, along with similar upgrades, depends on the convenience and efficiency of technology. The Lightning Network has no critical flaws, but in spite of this, the speed of propagation of solutions based on LN still does not justify the expectations.
An important factor is the spread of purses that support Lightning Network. At the moment, users can choose any client from a fairly wide selection, but most wallets for LN still do not have a graphical interface. One of the last proper decision for a beta version of its wallet was presented by the developers of the project Zap.
Another important engine in the Lightning distribution Network is providing convenient solutions to create nodes gateways. One of them was presented by the developers of the startup of Casa, main field of activity of which lies in the sphere of security. Because of their work saw the light of the hardware node Lightning. Its characteristic is the maximum sync speed at the expense of the already loaded in the blockchain of bitcoin.
However, Lightning Network, there are opponents. One of them was the CEO of e-payment service Bitrefill Sergey Kotlyar. In one of his interviews he said that the main problem of the technology for users is the need to make certain concessions.
Another enemy, passed subsequently to the side of the support, was a Bitcoin Core developer Peter Todd. Earlier, the expert criticized the Lightning Network, the lack of security programming language, but the subsequent successful three LN-payments within the same channel are forced to change point of view.