A new technology promises to make bitcoin useful to pay for things, not hoard https://t.co/z1VmRECEDa
— Quartz (@qz) December 18, 2017
How to use the Lightning Network on the Bitcoin Mainnet…
With the recent activation of Segregated Witness (SegWit) on the main Bitcoin blockchain, everyone has been so hyped for the Lightning Network and its trustless off-chain “payment channels” that the Bitcoin price has hit record highs.
However, actual Lightning Network usage has been a bit thin on the ground. The peer-to-peer protocol has been specced out, and implementations such as c-lightning, lnd, and lit have been written, but users and network nodes are scarce.
This post will explain how to ignore the “do not use these with real money!” warnings and deploy a Lightning Network node on the Bitcoin mainnet.
The Lightning Network claims scalable and instant Blockchain transactions – capable of millions to billions of transactions per second across the network.
This could potentially provide Blockchain transaction speeds similar to those of Visa and Mastercard.