Stellar Preps Lightning Network Implementation for December Release
The development team behind blockchain project Stellar has shown that they intend to establish a key net implementation of the Lightning Network (LN) by the end of the year.
On Monday, the Stellar team released the technical specifications and roadmap for its implementation of the Lightning Network, a technological update that enables cryptocurrency networks to improve speed and efficiency by transferring payments «off-chain» into second-layer payment stations.
Stellar's developers claim that its LN implementation could end up being even more robust than those made for Bitcoin and other similar coins, allowing users to finish «any operation you can execute on the Stellar network (such as not only payments, but also creating, deleting, or changing permissions on accounts).. .within a payment station.»
From the post:
«Stellar's state channel implementation relies on the fact that each and every Stellar transaction specifies a source account and a sequence number. We've figured out how to utilize those sequence numbers as a natural versioning mechanism for off-chain obligations; it is very similar to how your bank gets alerted for out-of-order cheques.»
LN proponents also predict that, down the street, this technology will be used to permit users to trade cryptocurrencies or create transactions across blockchains using «nuclear swaps.»
That an LN implementation will launch on Stellar does not entirely come as a surprise. The project first floated adopting state channels in 2015, and a roadmap published by the cryptocurrency programmers in January included Lightning among its growth goals for 2018.
However, the programmers are so confident they can employ it this fast is significant.
Indeed, it was only last week that Lightning Labs released the first beta version of a Bitcoin LN implementation.
But, Stellar has enjoyed the efforts of Bitcoin Core developer Jeremy Rubin, and it believes that Stellar's execution of the Lightning Network will receive a beta release by Oct.1, with a full launch slated for Dec. 1.