We have closely been following the cryptcurrency craze this year, and in particular bitcoin and litecoin. Of course, we have previously discussed the lightning network and how it could impact the entire system. Today, we have major news:
As developers of the Lightning Network protocol, Medium announced version 1.0 RC of the Lightning protocol specification along with a successful cross-implementation test on Bitcoin mainnet!
The 1.0 release of the Lightning protocol is an important step in our work toward standardization that started over a year ago in Milan.
In parallel with its interoperability work, Medium’s three teams also developed their own Lightning implementations with a focus on cross-compatibility.
Interoperability enables a single Lightning Network where payments are seamlessly routed without being isolated or incompatible. Medium’s teams have developed a comprehensive set of integration tests, and all tests are passing!
Today Medium also is announcing the world’s first Lightning payments on the Bitcoin mainnet across all three implementations.
These tests are the first multihop Lightning payments using real Bitcoin.
For the first test, Medium used the coffee shop Starblocks as our example eclair application. It accepted an incoming payment in bitcoin from a customer paying with the lnd Lightning app as the client, and was routed through c-lightning. Mmm, blockaccino! 🙂
For the second test, Medium made a payment from eclair to yalls.org, an article micropayment site on lnd, routed through c-lightning. This highlights another anticipated use case for Lightning: the ability to send instant, small value payments.We’d like to thank the members of the community who have pitched in so far to help in the collaborative effort to test and build Lightning.
Each team is working diligently toward mainnet beta releases for their implementations with a focus on stability and security.
As Medium move towards a final 1.0 version of the specification, Medium invites the broader community to provide peer review and feedback.
Quad 7 Capital believes this a monumental step forward.
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