According to the monitoring resource 1ML, the Lightning Network – the second layer of the bitcoin network designed to make payments faster and cheaper – continues to expand. It currently has 4,039 nodes, of which 2,914 are public. In addition, the capacity of the LN network reached a record of 124.75 bitcoins, and its largest node accounts for 16 bitcoins in total. Writes about this Bitcoinist.
Although LN is still an experimental project, as its developers continue to work on resiliency and basic security, the consensus mechanism and technical capabilities of the network are getting better..
On Monday, Alex Bosworth, Infrastructure Lead at Lightning Labs and CEO of the Yalls.org payment platform, announced a list of improvements the community has agreed to implement at LN following the September Melbourne Summit. At the time of the next version of the Lightning Network, a total of thirty different changes will be made to it, including forked payments, channels with double funding, hidden addressees function, and so on..
Lightning Network technology is also used for the Litecoin cryptocurrency. Stellar developers announced this week that they plan to implement LN in their network by the end of 2018 too. The Stellar blog reported that they “noticed the market demand for transactions using more closed private channels” and are therefore in a hurry to implement them in their network..
“Lightning will have a big positive effect on the long-term scalability and security of Stellar,” the publication says. “We’ve known for a long time that the Lightning Network is applicable to Stellar, and recently partnered with Stellar consultant and Bitcoin Core developer Jeremy Rubin to optimize implementation of this technology.”.
Today, the Lightning Network bitcoin network can be graphically represented as follows: