Blockchain content startup Yours is working on an alternative version of the Lightning Network – one that actually works on bitcoin today.
Best known as one of the more ambitious technologies for increasing bitcoin’s throughput, implementations of the Lightning Network have yet to launch, partly because they depend on a yet-to-be-implemented protocol upgrade, known as Segregated Witness (SegWit).
That’s where the version put forth by Yours aims to stand apart.
It’s one of the only Lightning-style projects that doesn’t require this feature. (One other is Teechan, though it takes a very different direction with the help of secure hardware.) And, as such, it’s perhaps the only version that offers a basic form of payment routing that works with bitcoin’s current code – a necessary piece of the puzzle for micropayments to work as the project has advertised.
For those who are new to the idea, Yours mirrors the popular blog platform Medium, but adds a paywall that requires a tiny fee to access each post. So, it’s no surprise then that making bitcoin micropayments easier is key to the firm’s business model.
The major caveat to the project’s version is that the transactions are not as smooth or trust-minimizing as those envisioned for the other alternative implementations of
Read more ... source: CoinDesk
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