lighting - Startup Blockstream Launches Lightning Micropayments for Developers

Startup Blockstream Launches Lightning Micropayments for Developers

The Lightning network is one of the proposed solutions for the bitcoin scaling problem. Different developer teams are experimenting with this technology. Other cryptocurrency developer teams, like the one behind Litecoin, are also trying to improve this promising lightning network that would be a huge upgrade for cryptocurrencies.

The bitcoin start-up Blockstream, has released on January the 16th, the micropayment system named Lightning Charge. This will allow developers to build applications on top of the Lightning Network.

Improving the Lightning Network

According to Blockstream, the micropayment processing system is powering the Blockstream Store, an e-commerce website that the company has launched some days ago. The lightning network would allow Bitcoin and other cryptocurrencies to process cheap and fast transactions. In addition, it could allow for micropayments to be processed too.

This is not the first time that Blockstream presents an important development. In 2017 it launched a free bitcoin satellite network. This could allow people from all over the world to have access to the bitcoin network without requiring an internet connection. At the moment, this enterprise is focused in providing new products based in the lightning network.

The company wrote in a statement:

“Blockstream’s implementation of the Lightning spec, c-lightning, focuses on the needs of the developers who will be creating Lightning-powered Bitcoin applications for these users. Though c-lightning is a low-level technology designed to implement the Lightning spec without added complexity, the true power of such an implementation can be unlocked by developer tools.”

Once the platform was launched, several users reported different bugs in the first 14 hours of use. According to Christian Decker, Blockstream Developer, this is an experimental tool. It is important for users to report these issues in order to be fixed as soon as possible.

Unfortunately, these products are complicated to use for normal individuals without programing skills. People could lose money using the platform if they are not extremely careful with it. But the future looks bright for the coming ‘Lightning Revolution’. “This is basically our way of scaling bitcoin to what was promised to everybody,” commented Decker.