Will ‘lightning network’ be a solution to the limitations of blockchain

Will ‘lightning network’ be a solution to the limitations of blockchain?

Lightning network is an amazing technology that is working to solve the limitations of blockchain for example, blockchains don’t support many users but lightning could multiply the transactions possible. Lightning network makes transaction faster and cheaper. The technology is on test and lightning sort of works, there is a lot of work to be done. Though the technology is yet at risk and not easy to use, big players across the world are still trying to improve it.

Lightning implementations

There are a number of developers who are working on lightning implementations. The lowest-level coders are working on so-called lightning implementations and as an example we can mention LND which is created by Lightning Labs. Different programming languages are being used in different software by developers who tend to concentrate on different features. Transactions can be sent between them with no bumps. Three groups that are doing so are Lightning Labs, Blockstream’s c-lightning and France-based Acinq’s Eclair who all three are holding bi-weekly IRC charts to negotiate future changes to specifications.

But fact is that some other lightning implementations are also there who are also using decentralized payment network. For example we can mention Rust-lightning and Japan-based startup Nayuta. These coders are working sincerely and they are improving the technology.

Wallets

Some wallets yet don’t support lightning payments and it is because the technology is still experimental. It can be cause that a parallel ecosystem of daredevil developers have been creating entirely separate bitcoin wallets so choosing one of them is tough. Acinq’s mobile wallet Phoenix is the oldest and most-employed non-custodial wallet. Lightning desktop wallet Zap started as a one-person side project which lets you make lightning transactions from your smartphones. Breez and BlueWallets are taking different approaches to building a slicker interface for lightning.

Obtaining lightning

Most people yet are unknown of lightning technology and many major exchanges don’t have the capability yet as the technology is not yet grown up. Users need to go through a massive experimental realm when they try to buy lightning-powered bitcoins directly with USD. Bitfinex has adopted lightning technology but only a little number of users makes transactions through the exchange. But what developers think is, when lightning is grown up, most bitcoin wallets and exchanges will adopt it.

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