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Bitcoin’s Lightning is a long way from mass adoption, say developers

One of the tools that generates the most attention among bitcoiners in the world is the Lightning network, due to its power to facilitate the use of cryptocurrency as a means of exchange quickly and with very low commissions.

Despite the fact that Lightning is a promising tool, development is still needed for its mass adoption. This is how developers specialized in this second layer network considered it, during one of the Presentations from the Blockchain Summit Latam, an event that takes place virtually this week with live transmission from the CriptoNoticias portal.

During the panel, they spoke Francisco Calderón, a grant to dedicate himself to the RGB project, a side chain focused on smart contracts for Bitcoin; Juan López, Galoy developer; and the head of Lightning at the Chilean exchange Buda.com, Maurice Poirrier.

Conference participants agreed that there is still a lack of tools to facilitate the work of developers so that Lightning can respond in high demand environments, such as exchanges with a lot of transaction flow, for example.

We have not yet reached the point where a lot of infrastructure is needed to run a decent operation with the Lightning Network. The next difficulty I think will come when more exchanges are added and more wallets are having a lot of money flow.

Maurice Poirrier, Lightning manager at Buda.com.

Lightning is easier than ever for users

Despite the fact that it still has a long way to go, the developers consider that, to this day, thanks to the advances of this network of payment channels for Bitcoin, Lightning has grown a lot from its beginnings. “As we have more freedom and at lower cost, the network is going to continue to grow,” added Poirrier.

In this sense, Calderón recalled that “when it all started, with the wallets that you had, you had to know what a payment channel was, how to open it, and people didn’t know how to receive funds. There was a lot of friction, a lot of criticism and people said that Lightning was not working.

But now much more has been thought about the user. Lightning introduced that bitcoin can be for anyone, to buy at any time or anything.

Francisco Calderón, Bitcoin Lightning-focused developer.

For Juan López, for his part, This advance in the use of Lightning has been marked by two aspects in particular: the support for this network that some important exchanges of the bitcoiner ecosystem have included, such as Bitfinex or Buda.com itself; and the proliferation of services that bring the use of bitcoin via Lightning closer to users: Bitrefill case, for example, which allows telephone recharges or the purchase of gift cards.

From left to right, bottom: Francisco Calderón, Juan López, Maurice Poirrier; top Javier Bastardo, moderator of the panel. Source: YouTube.

Among the most recent advances that make Lightning a more robust option for the adoption of payments with bitcoin, cases such as BOLT 12 stand out: with this protocol, it is possible to create recurring payments with Lightning with static or fixed invoices. Normally, each payment in this network involves the creation of a new invoice or invoice, something that this new tool solves.

Another novelty that recently arrived to facilitate the use of Lightning are personalized addresses, something that makes possible the protocol “The Lightning Address”, as reported by CriptoNoticias.

While improvements and tools that help to strengthen the network and its uses continue to be developed, Lightning has grown exponentially in nodes, channels and capacity of bitcoins that move on the network.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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