|Jan 11, 2018 07:00 AM||By: Guest Author | 9181 Views|
During the first week of the January 2018, many cryptocurrency supporters have been talking about the Lightning Network (LN). So far the protocol has exceeded 610 nodes and 1882 channels while many bitcoiners, businesses, as well as developers have tried the technology in both testnet and manner. This week the virtual private network (VPN) service Torguard started main net LN payments and claim transfers have close to zero fee settlements.
The Lightning Network (LN) node count has exceeded 610 nodes this week, and most of the action is taking place on Bitcoin’s testnet. Programmer Alex Bosworth cleared his phone bill with no fees, and the transactions were completed instantly. Now the unidentified VPN and proxy/email services provider, Torguard, has declared it is now accepting mainnet LN transactions. The company describes customers have to reach out to help for details, and the firm is even ready to take on mainnet LN losses.
“Disclaimer: c-lightning is not production ready — Torguard will cover the loss of funds when sending us LN payments — Testnet is so boring,” explains the VPN service.
Torguard’s new tweet also shows a demonstration of the firm doing mainnet Lightning transactions. According to the firm’s representatives, an invoice fee for 1 month of service costs only 1 satoshi. If any user has a mainnet node for LN they can reach the company and set up a transaction using the protocol.
Many bitcoiners think the LN protocol will improve the decentralized currency’s advantages and preserve the current wait times and high fees tethered to BTC transactions. Just recently the bitcoin developer Jameson Lopp states the protocol’s rollout has now started:
“The [Lightning Network] rollout has now begun,” explains the Bitgo developer.
This is an iterative distributed learning process; it’s unlikely there will be a single point in time at which we say LN is “deployed” because it will grow organically — Software is never finished.