From 2016, big banks and wall Street in one voice say: Bitcoin is doomed, but the blockchain is a promising technology. President Lightning Labs Elizabeth stark and many who work on the code of Bitcoin, did not agree with this statement.
However, after the overwhelming surge of the price of the cryptocurrency at the end of 2017, the pendulum of acceptance has swung back to bitcoin.
«The network of payment channels Lightning Network is more the world of Bitcoin than the blockchain, where people understand what cryptocurrency technologies and what benefits they provide,» — said in a conversation with Yahoo Finance Elizabeth stark, implying the algorithm of PoW (Proof-of-Work) and private keys «make Bitcoin special.»
«The success of the Lightning is closely associated with the rise of market capitalization not only Bitcoin, but all the leading cryptocurrency in late 2017. Although since that time it has fallen significantly, it is not so bad when you are a developer in the Bitcoin network,» said stark. However, she said that price hikes negatively affect the activity of technical developers so stark that «the market was quiet».
Elizabeth stark led the development of the project Lightning Network, which entered into beta testing. The main task of the LN – solution to the problem of scaling by increasing the speed of transaction confirmation.
According to stark, Lightning Network allows to execute thousands of transactions per second, and sometime even millions than surpass the capabilities of Visa and other traditional systems.