The cryptocurrency community is celebrating what may have been the first ever transaction on the Bitcoin Lightning Network’s (LN) mainnet. Additionally, the good news is that the Bitcoin payment operation was, “instantaneous and fee-free.”
LN TRANSACTIONS PROVE TO BE CHEAP AND FASTERThe cryptocurrency community is becoming increasingly enthusiastic about the LN implementation because it promises to significantly lower Bitcoin’s transaction fees while making possible near-instant transactions.
Social media is humming with news references to LN technology progress. And, when Reddit user btc_throwaway1337 announced that he had successfully used the LN mainnet to make a purchase, crypto enthusiasts rewarded the news with over one thousand five hundred upvotes.
Specifically, user btc_throwaway1337 announced:
I used Lightning Network’s mainnet (via lnd) to purchase an AR300M VPN Router through TorGuard, and it’s here! This may have been the first ever physical purchase on LN.
He described the purchase experience as follows:
It was all quick, easy, painless, and most importantly: instantaneous and fee-free!
User btc_throwaway1337 also submitted proof of the purchase, shown here, indicating that the funding transaction for the channel cost about $2.40 USD.
And, because TorGuard already has channels open with vendors and users, he was able to use the same channel for routing payments to/from others.
TorGuard is a provider of anonymous Virtual Private Network (VPN), proxy, and email services.
Read more:
http://bitcoinist.com/lightning-network-happening-first-physical-item-purchased-ln/