Bitfury Group conducted the 1st transaction in the Lightning Network using the bitcoin protocol
Earlier this month, Bitfury Group conducted the first multi-hop transaction on the Lightning Network, sending several off-chain lightcoins. Now we were able to successfully test the operation of the Lightning Network using the bitcoin protocol.
/ image Vadim Kurland CC
After much research and successful tests, our team of engineers was able to conduct a transaction with real Bitcoins on the Lightning Network. The flow of funds can be seen in this video :
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Three LND nodes were involved in the transaction. Two of them were connected to interim payment bidirectional channels. You can find the hash of the underlying transactions in any block browser:
After opening the channels, two transactions were carried out: one single-hop and one multi-hop. After that, closing transactions were sent to the bitcoin blockchain. Their hashes look like this:
LND logs involved in the transaction were also posted on GitHub .
Lightning Network is a network of two-way payment channels that allow you to perform multiple transactions without writing each one to the blockchain, that is, exchanging cryptocurrency outside the blockchain. The network is distributed and decentralized and is built on the principle of a mesh network. This eliminates the problem of transaction censorship and violation of users' privacy, and also allows you to avoid having a single point of failure.
One of the defining features of LN is the ability to send currency to any member of the network through a chain of payment channels opened between users by building a route from the recipient to the sender.
Bitfury has supported the development of the Lightning network for over a year. In July 2016, we presented a report with the specification of the Flare routing algorithm , developed in conjunction with the Lightning Network team. The algorithm was tested by ACINQ.
In the test, the routing was done manually, since only three known nodes participated in the transaction. The algorithm itself will be used in a working system with a large number of participants.
Additional reading materials:
/ image Vadim Kurland CCAfter much research and successful tests, our team of engineers was able to conduct a transaction with real Bitcoins on the Lightning Network. The flow of funds can be seen in this video :
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"This is a major achievement of our technical team and an important step towards the growth of the Lightning network and Bitcoin," said Valery Vavilov, CEO of Bitfury Group. - Lightning Network is able to solve the problem of scaling Bitcoin blockchain and provide instant payment functionality. By demonstrating the consistency of the LN concept, we paved the way for the further development of Bitcoin. ”Software written by Bitfury developers is based on the LND (Lightning Network Daemon) protocol , developed by Lightning Labs . The modified code can be found on the link to GitHub .
Three LND nodes were involved in the transaction. Two of them were connected to interim payment bidirectional channels. You can find the hash of the underlying transactions in any block browser:
d8dc019280a8531fdcf26e350874fe3100c06925306f002d85c943d9c215609e 8a4bf5481b12ee572639454939bef0d5e5b1a92bb3892db431ebb88f944e3f90
After opening the channels, two transactions were carried out: one single-hop and one multi-hop. After that, closing transactions were sent to the bitcoin blockchain. Their hashes look like this:
5e1ddeb8ebdc1a8603e6294546858da3e432af532f2b71ba0fc2214a9ecafd0c 00843a49178ba5304d1940945312d66e066dc59f96a006d04c21adbb4f074656
LND logs involved in the transaction were also posted on GitHub .
About Lightning Network
Lightning Network is a network of two-way payment channels that allow you to perform multiple transactions without writing each one to the blockchain, that is, exchanging cryptocurrency outside the blockchain. The network is distributed and decentralized and is built on the principle of a mesh network. This eliminates the problem of transaction censorship and violation of users' privacy, and also allows you to avoid having a single point of failure.
One of the defining features of LN is the ability to send currency to any member of the network through a chain of payment channels opened between users by building a route from the recipient to the sender.
Bitfury has supported the development of the Lightning network for over a year. In July 2016, we presented a report with the specification of the Flare routing algorithm , developed in conjunction with the Lightning Network team. The algorithm was tested by ACINQ.
In the test, the routing was done manually, since only three known nodes participated in the transaction. The algorithm itself will be used in a working system with a large number of participants.
Additional reading materials:
Source: https://habr.com/ru/post/333864/
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