{"id":4164,"date":"2018-02-04T02:15:14","date_gmt":"2018-02-04T02:15:14","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=4164"},"modified":"2018-02-04T02:15:14","modified_gmt":"2018-02-04T02:15:14","slug":"bitcoins-lightning-network-widens-1000-mainnet-channels","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/bitcoins-lightning-network-widens-1000-mainnet-channels\/","title":{"rendered":"Bitcoin\u2019s Lightning Network Widens With 1,000 Mainnet Channels"},"content":{"rendered":"

\"\"Lightning Network, which promises<\/a> to resolve scalability issues faced by Bitcoin\u2019s block chain network, has achieved a milestone of 1,000 mainnet payment channels. The network congestion has forced several companies, including Stripe, to suspend the support for Bitcoin payments in the recent past.<\/p>\n

A white paper on solving Bitcoin\u2019s scaling problems was published by Joseph Poon and Thaddeus Dryja on January 16, 2016. Rather than upgrading Bitcoin network\u2019s underlying applications, which would be a tedious process, the white paper proposed a Lightning Network (LN)<\/a>, which could resolve the issue of scalability. In layman terms, the white paper called for adding an excess layer to the network, where trades can be completed quickly and without compromising on security.<\/p>\n

The LN transactions are similar to the usual Bitcoin transaction, but are deferred off-chain (and not added to the block chain instantaneously). To secure the off-chain transactions, there was a need to patch the transactions on the block chain network. That was completed by activating the Segregated Witness patch on August 24, 2017. The network enables execution of infinite off-chain micro-transactions at lightning speed.<\/p>\n

Lightning Network is still in the alpha (testing) stage. However, crypto enthusiasts have already begun testing LN nodes on the Bitcoin mainnet by opening payment channels.<\/p>\n

TorGuard started accepting LN payments for its VPN service in January. Likewise, Coinfinity completed a LN transaction on a Bitcoin ATM.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lightning Network, which promises to resolve scalability issues faced by Bitcoin\u2019s block chain network, has achieved a milestone of 1,000 mainnet payment channels. The network congestion has forced several companies, including Stripe, to suspend the support for Bitcoin payments in the recent past. A white paper on solving Bitcoin\u2019s scaling problems was published by Joseph […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,68],"tags":[],"class_list":["post-4164","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrency"],"yoast_head":"\nBitcoin\u2019s Lightning Network Widens With 1,000 Mainnet Channels<\/title>\n<meta name=\"description\" content=\"Lightning Network, which promises to resolve scalability issues faced by Bitcoin\u2019s block chain network, has achieved a milestone of 1,000 mainnet payment channels. The network enables execution of infinite off-chain micro-transactions at lightning speed.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/bitcoins-lightning-network-widens-1000-mainnet-channels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin\u2019s Lightning Network Widens With 1,000 Mainnet Channels\" \/>\n<meta property=\"og:description\" content=\"Lightning Network, which promises to resolve scalability issues faced by Bitcoin\u2019s block chain network, has achieved a milestone of 1,000 mainnet payment channels. The network enables execution of infinite off-chain micro-transactions at lightning speed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/bitcoins-lightning-network-widens-1000-mainnet-channels\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-04T02:15:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/12\/bitcoin.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"Bitcoin\u2019s Lightning Network Widens With 1,000 Mainnet Channels\",\"datePublished\":\"2018-02-04T02:15:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/\"},\"wordCount\":234,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/bitcoin.jpg\",\"articleSection\":[\"Bitcoin\",\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/\",\"name\":\"Bitcoin\u2019s Lightning Network Widens With 1,000 Mainnet Channels\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/bitcoins-lightning-network-widens-1000-mainnet-channels\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/bitcoin.jpg\",\"datePublished\":\"2018-02-04T02:15:14+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"Lightning Network, which promises to resolve scalability issues faced by Bitcoin\u2019s block chain network, has achieved a milestone of 1,000 mainnet payment channels. 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