Small Bitcoin transactions will be possible.
It is the ACINQ, as well as Blockstream and Lightning Labs who published the results of their tests. And the public launch should not be too late.
The main feature of Lightning is that it is a mechanism that should significantly increase Bitcoin’s capacity.
And it must be emphasized that the rules of the network resemble the standards that support the Internet.
Its specifications can also evolve over time. But for now, they should be good enough to support the network.
Pierre Marie Padiou, who is the founder of ACINQ, said:
“This is the Lightning standard we have been working on for over a year. There was a lot of work on our part and all the participants. It’s an important step. “
Blockstream engineer Christian Decker explained that more than 70 tests have been done that show that the implementations are compatible with each other.
This is what he said:
“We have been able to make successful payments on the mainnet that goes around the world, and that involves different compatible implementations,” it was a big problem.
Of course, the development continues.
But right now, developers know what rules to apply to continue their Lightning network.
When is the morning coffee paid in Bitcoin?
Two test transactions were performed to demonstrate how the network can be used for small payments.
A first transaction was made through Blockstream’s C-Lightning nodes, to fake ACINQ coffees.
The second used the ACINQ’s portfolio to send small payments to Yalls through Lightning Labs C-Lightning.
“It’s a very small network, but it shows how interoperability works”, it highlights a live proof of concept for the scaling mechanism “
However, there is still a lot of work to do before you can actually pay for your morning coffee in Bitcoin! And developers must solve some problems before proposing to companies to adopt the network.
These steps step by step, demonstrate in any case that developers are looking to make technology safer for users. They do not want customers to lose their money.
This is what Padiou argued:
“It also shows that the approach has been very conservative. We are not going to rush anything, but we are almost there.