The Litening: Will Litecoin Be the First Big Blockchain With Lightning?

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A new test version of the Lightning Network launched today, marking its latest step toward a long-awaited live debut.

But, what’s most notable about the news isn’t that it’s occurring (the idea has, after all, been in the works since 2015), it’s where the technology will be deployed.

First envisioned as a way to expand bitcoin, Lightning has yet to go live on the world’s largest cryptocurrency. And as attempts to enact the necessary upgrade have stalled there, some of Lightning’s developers are taking action by moving work elsewhere – to the litecoin blockchain.

This is now possible largely because last week the network passed a technical upgrade called Segregated Witness (SegWit), making it the first major blockchain network to adopt the upgrade since it was proposed back in December 2015. (Other smaller cryptocurrencies, such as Syscoin, have also implemented SegWit.)

Now, just a few days after this milestone, San Francisco startup Lightning Labs is releasing a version of its software for litecoin’s testnet.

In interview, Lightning Labs co-founder Elizabeth Stark noted that the software will initially be available only for developers. Though, with SegWit locked in, the hope is that users will be able to use it to move real money for the first time

Read more ... source: TheBitcoinNews

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