Lightning Labs has announced the beta version of Bitcoin Lightning Network, as reported on Friday.
Atomic Multipath Payments with Bitcoin profit
Lightning Labs, however, presented its features and was able to make a major contribution to solving some of these security concerns for Bitcoin profit. Among these are the Atomic Multipath Payments (AMPs) so called send limits within a channel. The function allows to split large Lightning transactions into many smaller ones when they are sent over the Lightning network, and then automatically merge them again. The respective party only sees the total amount of the transaction without knowing that Atomic Multipath Payments was used for Bitcoin profit.
Earn money by operating a Lightning Node
It is interesting to note that it will be possible to earn money through a Lightning Node in the Lightning Network. The goal is that the more nodes in circulation, the less hops (payment channels) need to be used to send the transaction.
Bitcoin code Lightning in the Mainstream Direction
This version has a remarkable functionality. A new specially designed wallet seed, deep compatibility, comprehensive error-tolerance logic, a variety of bug fixes and much more are included in the Bitcoin code beta release which can be found here: Is The Bitcoin Code a Scam? Beware, Read our Review First
The Bitcoin Lightning network has also been criticized by a number of Bitcoin experts. Security considerations and a lack of experience as to how this technology would actually work in practice had sparked some discussion. Peter Todd, Bitcoin’s core developer, also warned against too rapid a release.
Big day for #Bitcoin, Lightning goes live on mainnet! The Lightning Network enables instant transactions between participating nodes and is seen as the solution to the Bitcoin scalability problem. LN will increase #Bitcoin transaction speed and reduce the fees.
Cross Chain Atomic Swaps
Many are eagerly awaiting the Cross Chain Atomic Swaps. Simply put, with the Lightning network it is possible to send a crypto currency that arrives as another crypto currency. For example, users would be able to send Bitcoin from one end and receive Litecoin from the other. A third instance like a stock exchange would then no longer be necessary. The first Cross Chain Atomic Swap transaction has already been done with Bitcoin and Litecoin.