The payment protocol that made the headlines for instant transaction speed, is now in the highlights again. The programmer who traveled the world with bitcoin, Felix Weis, successfully demonstrated a transaction via Lightning Network on a Bitcoin ATM at the Lightning Hackday event in Hong Kong.
Here is what Weis has to say about the transaction -
“Just a proof of concept ‘top up your existing channel.’ Lots of bugs but two different mobile wallets worked fine.”
The Lightning Network is growing fast with estimated 7,754 nodes, 39,129 channels & the network capacity of 1,058 BTC. The quick transaction time & lower BTC transaction fees are attracting the crypto community.
The Lightning Network was designed as a decentralized system in which those participating can implement trustless micropayment channels to facilitate one or multiple payment transactions off-blockchain.