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Stellar Gets Ready To Start Up The Lightning Network

Back on March 15th of this year Lightning Labs unveiled their LND 0.4-Beta which was the first beta release of the Lightning software implementation. The beta release signified that Lightning Labs felt it was ready to be used within Bitcoin’s Mainnet.

Lightning Labs was able to procure $2.5 million in funding, which will be used for further research into the development of LND.

On March 18th, Stellar said in a blog post titled, “Lightning on Stellar: Technical Spec and Roadmap”, that the plan was to make Stellar the world’s digital payment rail and that they were already the most deployment-ready of the major platforms. Nevertheless, like all projects, they said that there was still detailed work to be done moving forward.

Bitcoin has been laden with problems in regards to the slow speed of transactions, often of which can take hours to be completed. Speed is supposed to be one of the benefits of cryptocurrency, so the Lightning Network is being touted as the answer to Bitcoin’s scalability issues and now the group has gone forward with implementing a fix to those problems. Those in the crypto community keeping up with the project have been nothing but optimistic about the advances taking place.

In an interview with Bitcoin Magazine, Stellar’s founder Jed McCaleb said that he and the team were very excited about where Lightning was headed. “It’s a great idea and a necessary one if any of these protocols are going to achieve their vision,” he said. “We have a lot of partnerships that have been announced and that will be announced soon that will start pushing the threshold for what Stellar can do.”

According to McCaleb a tentative schedule shows a fully functional Livenet for the Lightning Network on December 1, 2018.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee