What cryptocurrencies can use Lightning Network

Initially, the decision the Lightning Network was developed for use with the main cryptocurrency – Bitcoin and was seen as a way to accelerate and reduce the cost of transactions by moving them to the add-on bacchanal. But since the problem of scaling becomes increasingly important throughout the industry, the developers of other cryptocurrencies, also began to turn to the idea.

Litecoin, zcash for, Ethereum and Ripple — a partial list of cryptocurrency, decided to start in 2018 with the implementation or testing of the Lightning network.

At the moment Lightning simultaneously launched Bitcoin, the cryptocurrency Litecoin, which works closely with startup Lightning Labs.

Apparently, other cryptocurrencies are also not going to stay away, because their developers have attempted to add a model of Lightning or similar. Recently, the ranks of the supporters of this decision have joined the seventh-largest cryptocurrency Stellar.

Team member Core Bitcoin Jeremy Rubin (Jeremy Rubin), which deals with the introduction of the Lightning Network in the Stellar network, believes that this technology is needed for any platform that wants to maintain the efficiency of payments.

The Similarity Of Lightning

On the other hand, not all blackany interested in Lightning from the side on which the decision is described to bitcoin.

The developers of Ethereum, for example, are working on similar scaling technology, called Raiden, and the project NEO has it’s own version called the Trinity. Despite that, both projects are working with different code bases, they use the same model, aimed at creating a high-level network through which users will be able to pass the transaction.

Other cryptocurrency network just recognize that Lighting systems need to scale in the future, but at the moment they have no time to implement them.

Several cryptographers working with the privacy-oriented cryptocurrency zcash for example offer a solution to the BOLT, which is a new kind of technology of micropayments in the style of Lightning, which also preserves the anonymity network. The project developers have hinted that the work on the technology is, although the run is too early to say.

Another privacy-oriented cryptocurrency Monero also plans to add the technology scaling of the second layer.

On the other hand, there are those who are still trying to scale the blockchain in the base layer.

The Grin project, the launch of which is expected later this year, uses a clever cryptography to generate the blockchain, which as its growth absorbs the unnecessary old data, so in the future he will not require a lot of space. Representatives of cryptocurrency IOTA claim that they managed to create a «blockchain without the blockchain», which allows the system to scale indefinitely (although the project is often criticized).

Ripple and Stellar

The third group of developers are considering the decision as part of a comprehensive approach to the scaling problem. So, the developers of some of the block chain, for example, Stellar and Ripple, I think your protocols are already ready to expand, and the technology of Lightning is considered as a safety net.

In particular, the road map Stellar stated that the project does not need a Lightning decision, but the technology could have «a very positive effect on long-term scalability and security Stellar».

Technical Director and co-founder of the Ripple project Interledger Stefan Thomas (Stefan Thomas) says the same thing, saying that XRP is already more scalable than the blockchain of Bitcoin (because it is not a full bloccano — approx. ed.). Despite these statements, the project team continues to explore payment technologies in the second layer, to be ready to apply them in the future.

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