Lightning Network ushers in "the most significant technological progress" in 2019, and multi-path payment is about to go online, solving the problem of large payments

"The most significant technological advancement of Lightning Network in 2019-multi-path payment-has passed interoperability tests and is about to go online. The large-scale payment problem of Lightning Network is expected to be resolved.

Bitcoin development company Blockstream announced today that it is approaching one of the biggest issues currently faced by the Lightning Network, a Bitcoin expansion solution. A better way to send large payments over the Lightning Network is coming.

lightning-801866_1280

Image source: Pixabay

Samson Mow, chief strategy officer of Canadian blockchain services company Blockstream, said today they have completed testing for interoperability of multipath payments. This allows large payments to be split into smaller parts so that large amounts of bitcoin can be sent quickly and cheaply.

Multi-party payment is a major goal of the Lightning Network and a long-awaited goal of the community.

According to Mow, this is the "most significant advance" of the year. However, he did not specify when new features will be available. He said:

"Multipath payment has just passed the interoperability test. This means it will be available soon."

Earlier this year, the Lightning Torch experiment highlighted the problems faced by sending larger payments over the Lightning Network, highlighting the boundaries of Bitcoin payments. The idea of ​​"Lightning Torch" is to spread more and more bitcoin among people around the world through the Lightning Network. In the process of passing the torch from one person to another, each receiver added a certain value each time, and the network encountered liquidity problems within its channel.

Mow explained:

"Multipath payments allow multiple channels to be used together, which means that large payments can be split into smaller ones for successful routing."

Lightning Labs co-founder Conner Fromknecht and its engineering lead Olaoluwa Osuntokun first proposed atomic multipath payment (AMP) on top of the Lightning Network in 2018.

But it wasn't until May of this year that this new routing proposal was incorporated into the Lightning Network specification, which solved the long-standing payment problems of Bitcoin, including AMP.

Sending payments through the AMP protocol will improve the privacy of Lightning Network intermediaries and save money and other benefits.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

A new attempt at traditional finance, the technology of the Stock Exchange enters the currency circle

In January 2019, the London Stock Exchange Group announced a partnership with the digital asset trading platform AAX,...

Blockchain

Simultaneously addressing the pressing issues of DEX and CEX, the company received a $ 40 million investment from Sequoia and Intel

Starkware, an Israeli startup, believes that it can solve two of the most pressing issues in crypto trading-the inher...

Blockchain

OTC is a hotbed of money laundering, can the exchange stay out of the way?

What should I do if my account is accidentally frozen? The over-the-counter market (OTC) is becoming more and more at...

Blockchain

Why do I always receive "Exchange Withdrawal" messages? Learn about the classification and protection measures of Web3.0 data leakage events in this article.

This article will introduce you to the classification of Web3.0 data breaches and what measures we should take to pr...

Opinion

Amazon's participation and the skyrocketing value of AI company Anthropic become FTX's biggest hope of repaying the debt?

FTX previously invested $500 million as a lead investor in Anthropic's Series B financing round, so the expected appr...