First Bitcoin Mainnet Lightning Network Product Launches As Developers Net $2.5 Mln
16 März 2018 - 12:19PM
ADVFN Crypto NewsWire
Lightning Labs released the first Bitcoin mainnet-ready Lightning Network (LN) implementation today,
March 15, in what the company describes as an “important
milestone”.
In a blog post, Lightning Labs, whose product
Lightning Daemon (lnd) helps developers easily connect to the LN,
described it as having “the necessary safety, security, and
fault-tolerance features required for real-world, real money
usage.”
The release comes as the company announced completion
of a seed finance round worth $2.5 mln, participation in
which came from some of the cryptocurrency industry’s biggest
names.
Square and Twitter founder Jack Dorsey and Litecoin
creator Charlie Lee led the list, which also
includes Square Capital’s Jacqueline Reses and ex-PayPal COO David
Sacks.
Reacting online, social media commentators celebrated the advance, with
Lightning edging closer to offering Bitcoin users practically free
and instant transactions.
Lnd also debuted with support for investor Lee’s
Litecoin.
Despite accruing over 1000 nodes and almost 2000
channels since December 2017, LN is nonetheless not without its
critics. Well-known industry figures including Core developer
Peter Todd and Bitcoin.org
creator Cobra have both voiced fears over
rolling out the technology too quickly without thorough
testing.
“Note that this release is intended for developers of
future Lightning applications (Lapps) along with technical users
and prospective routing node operators,” Lightning Labs’ blog post
reads, adopting a pragmatic tone.
“In this early phase of Lightning, we’re focused on
providing the software infrastructure (such as lnd!) necessary to
bootstrap the network and serve as a platform for future
applications, services, and businesses.”
By
William Suberg
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