Stellar launches a Lightning Network

Behind the cryptocurrency Stellar nonprofit organization, the Stellar Development Foundation has published a formal specification that details the timelines and plans for implementation of technology Lightning Network. Co-founder and technical Director of the project McCaleb jed (Jed McCaleb) said:

«Next year we want to focus on the issue of scaling. The hype associated with cryptocurrencies, has greatly influenced the industry of the blockchain demands on it increased. Today, the technology cannot fully satisfy user requests».

However, the most important, in the opinion of machalaba is that partners insist on a Stellar scale. When Ethereum started having problems with scaling, the creators of the app Kik announced plans to leave the platform and translate the transactions in the blockchain Stellar. However, if Kik is really going to move all their transactions in Stellar, the site will expand, said McCaleb.

In addition, technology giant IBM, who is also a partner
Stellar, there are «ambitious plans for banks that use network», which will require scaling Stellar, while the startup SatoshiPay and other partners of the team also expressed their interest in this area.

The following steps

Team Stellar has announced plans a few days after the beta version of Lightning for transactions in the core network of Bitcoin was released by Lightning startup Labs. Although Bitcoin took a year to come to this update McCaleb believes that Stellar will be able to implement the technology faster.

«Now that the technology works in the world of Bitcoin, all the processes for implementation on our part to accelerate,» said he.

Despite this, the team will have to work hard. Stellar developers couldn’t just port the code from Bitcoin – they had to create his own version. For this they enlisted the help of developer Jeremy Rubin (Jeremy Rubin), who for many years was actively involved in improving the network of Bitcoin.

By April 1, Stellar plans to launch the first elements of the technology in a test network and make a version for actual payments by the autumn. McCaleb stressed that his team of engineers is waiting for feedback from developers and researchers community.

Amid the hype around technology Lightning among bitcoin companies and outside the industry, McCaleb hopes that Stellar will go ahead with the cryptocurrency community, not trail behind technological developments, in particular in the implementation of LN.

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