Syscoin has confirmed it has introduced the Lightning Network (LN) on its mainnet, becoming the kickoff cryptocurrency to accomplish the milestone.
In transaction records reproduced on its Twitter page on Thursday, Syscoin demonstrated the kickoff successful transaction sent using the technology.
The Lightning Network uses existing Blockchain engineering scientific discipline to render rapid payments betwixt participants. Its implementation is a telephone commutation finish for cryptocurrencies including Bitcoin, where it could serve to decrease transaction processing times considerably.
While LN is non theme on consensus for its implementation, progress has stalled on Bitcoin with the ongoing scaling debate. Segregated Witness is seen equally a prerequisite to a suitable LN deployment, although technically, developers accept said a �poorer� version could hold upwards created without it.
�You could brand a poorer lightning network without it, which has higher risks when establishing channels (you powerfulness accept to await a calendar month if things become wrong!), has express channel lifetime, longer minimum payment popular off times on each hop, is less efficient together with has less robust outsourcing,� Blockstream�s Rusty Russell explained inward Dec concluding year.
�The entire spec equally written today assumes segregated witness, equally it solves all these problems.�
Litecoin this calendar week announced it had locked inward Segregated Witness technology, all the same inward deploying LN, Syscoin remains unique.
Its value shot upwards before this month, likewise on word of SegWit activation.