Lightning Network releases Mainnet support for Bitcoin and Litecoin

[vuive1510]

Lightning Labs released the Lightning Network (LN) version of the application on its main network yesterday, and described it as a milestone. If you do not know yet, the Lightning Network is a network of research that addresses Blockchain's weaknesses such as scalability, transaction fees and transaction speed.

In a blog post, Lightning Labs, which has a Lightning Daemon tool that makes it easy for developers to connect to LN, describes their product as having "the necessary security, security, and features." Avoid the bugs that are required for real-world applications with real money.

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[achow101]

Note that the Lightning Network is not something that is owned by or controlled by Lightning Labs. Nor is it something that only Lightning Labs creates; there are multiple companies and groups that are creating implementations of the Lightning Network specification which was also created by multiple different groups of people.

[Kakmakr]

The technology is Open source, so basically anyone can provide tools to make it easier to connect or use it. It would only make sense for them to provide a tool for other developers to interact with their technology, if they want more developers to use it. <They also want security to be the highest priority>

Developers will now be able to create more applications, much faster now and that is exactly what we need now for the Lightning Network.

[livc95]

it's a big news. but the market is bearlish.

[CryptoFanholic]

Lightning Labs released the Lightning Network (LN) version of the application on its main network yesterday and described it as a milestone. If you do not know yet, the Lightning Network is a network of research that addresses Blockchain's weaknesses such as scalability, transaction fees and transaction speed.

In a blog post, Lightning Labs, which has a Lightning Daemon tool that makes it easy for developers to connect to LN, describes their product as having "the necessary security, security, and features." Avoid the bugs that are required for real-world applications with real money.

Yesterday someone mentioned this on BTT and I was like prove your words. after an hour i saw the news on coindesk. Really Really amazing news this is but the market couldn't pick up this news to make a bullish run.

[DooMAD]

market couldn't pick up this news to make a bullish run.

it's a big news. but the market is bearlish.

Since Blockstream and ACINQ have already been informally supporting mainnet for some time in their builds, it's perhaps not quite the headline-grabbing news it would otherwise be.  Lightning Labs were initially hesitant about rushing mainnet transactions due to concerns over the potential for lost funds while it was still relatively new and untested, but clearly they feel more confident about that now that it's been running smoothly for a while.  

[ciro1]

LN is still in beta but this is a big step forward. Let's keep hoping that LN becomes the answer to all the problems, but still a very big step moving forward.

[nicosey]

How are they doing routing?

[pebwindkraft]

LN is still in beta but this is a big step forward. Let's keep hoping that LN becomes the answer to all the problems, but still a very big step moving forward.

The answer to all problems is 42.

How are they doing routing?

a quick discussion here: https://bitcointalk.org/index.php?topic=3081975.msg31896324#msg31896324

The routing itself is described here:
https://github.com/lightningnetwork/lightning-rfc/blob/master/04-onion-routing.md

There is a longer thread which becomes on page 2 a definition fight if lightning is "banking system" or not ... you may skip this section.
https://bitcointalk.org/index.php?topic=2852931.0

[pawanjain]

The Lightning Network is the thing which many people are waiting for over the past few months. Apart from it's ability to make micro transactions over Bitcoin a possibility, it has given hope to many Bitcoiners. Although it is still in it's beta version, it is good to see that it is running smoothly on the testnet. It also gives us hope that the Lightning Network may go mainstream any time soon. Bitcoin will surely go bullish once the LN goes mainstream.

[Wind_FURY]

People shouldn't forget that LN is still in beta (even though Bitcoin considered still in beta version) and as far as i know, the setting/configuration for using LN isn't as friendly as using mobile wallet.

it's a big news. but the market is bearlish.

Even SegWit which reduce tx size, indirectly increase maximum block size (2MB - close to 4MB) and hyped even by mainstream news don't have much impact

Plus don't be "reckless" by opening large payment channels in the network.

https://twitter.com/alexbosworth/status/976158861722726405

Lightning nodes are getting DDOS'ed, rumor is that someone from the 2x effort known as "BitPico" has taken credit for this. The Lightning services I've deployed have been attacked from the start, with botnets, etc.

There are also some people testing Lightning on mainnet who believe there is an exploit.

This was what Elizabeth Stark of Lightning Labs has been warning us. Use the testnet, not the mainnet.

[GregoryPorter]

This is really good news for bitcoin. It's ahead of schedule! Funny to say that considering lightning was being discussed a few years back. This slow progress is what makes bitcoin so secure

[J Sykes]

Ye the main net is still buggy but I'm very optimistic with this news