First Bitcoin Mainnet Lightning Network Product Launches

Lightning Labs launched the primary Bitcoin mainnet-ready Lightning network implementation on March 15, in what the organization describes as an essential milestone. In a weblog post, Lightning Labs, whose product Lightning Daemon allows creators easily connect to the Lightning network, defined it as having the essential protection, safety, and fault-tolerance capabilities required for real-world, real money use.

The release comes because the organization announced completion of a seed finance round worth $2.5 million, participation in which came from a number of the digital currency business’s largest names. Square and Twitter founder Jack Dorsey and Litecoin author Charlie Lee led the list, which additionally consists of square Capital’s Jacqueline Reses and ex-PayPal COO David Sacks.

Bitcoin Lightning Network

Reacting on-line, social media commentators celebrated the advance, with Lightning edging toward providing Bitcoin customers nearly loose and instant transactions. Product Lightning Daemon additionally debuted with assist for investor Lee’s Litecoin.

Litecoin published in Twitter on March 15:

“Congrats @lightning! The beta is now live on the Bitcoin and Litecoin mainnet!”

In spite of accruing over one thousand nodes and nearly two thousand channels since December 2017, Lightning network is not without its critics. Such popular industry figures such as core developer Peter Todd and Bitcoin.org author Cobra have both voiced fears over rolling out the technology too fast without thorough testing.

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Lightning Labs’ weblog post reads:

“Note that this release is supposed for builders of future Lightning programs along with technical customers and potential routing node operators. In this early phase of Lightning, we’re centered on providing the software infrastructure important to bootstrap the community and function as a platform for future packages, offerings, and organizations.”

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