Lightning Released for Mainnet

The anticipated Lightning Network has finally launched on the bitcoin and litecoin main net as a beta version, Lightning Network is an open source protocol that allows people to send a series of bitcoin and litecoin payments without having them on the block chain, and only having a small fraction of them on the main block chain with full security, Lightning Labs, one of the main companies working on Lightning Network and the creator of this beta software has raised 2.5$ Million earlier this year from different investors including litecoin creator Charlie Lee and twitter CEO Jack Dorsey.

Currently there is a limit of 1400$ per channel or about 400$ per payment, as this version is aimed towards developers and users who are able to run the Lightning Network command line along with a bitcoin or litecoin full node. but with almost 1000 nodes currently running Lightning and thousands of more developers building applications on it, Lighting maybe one of the biggest innovations to hit the block chain as it allows users to send payments with a much lower fraction of fees compared to the current methods, it also allows developers to build applications on the block chain. A more stable and accessible software would allow more audience to use Lightning, but until that, we will take what we can get.

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