BitFury Releases a Proposal on Micropayments Routing in Lightning Network
BitFury Group published a whitepaper describing Lightning Network’s protocol routing as applied to micropayments in Bitcoin network.
The proposal is a hybrid routing algorithm incorporating two phases: proactive update of routing scheme, which stores network topology data; and subsequent active data collection if Lightning Network sends a request.
â€śFlare will allow for huge scalability of the transaction processing power of the Bitcoin Blockchain network, with transactions per second (tps) capacity potentially exceeding that of legacy payment rails (such as Visa or PayPal). After implementation of Flare, we expect to achieve theÂ performance of at least 400 tps per single payment channel, and more than 100,000 tps for network overall in our test environment by the end of July,â€ť BitFury blog post reads.
The algorithm will be first launched in test environment in late July.
One of Lightning Network‘s defining features is the ability to send values directly in a peer-to-peer network, with no need for mutual trust or intermediaries.
- Bitfury launches open source enterprise-grade blockchain framework ‘Exonum’
- VEB, Ethereum and BitFury to Join Russia’s First Blockchain Research Center
- BitFury to Help in Moving Ukraine’s Land Registry to Blockchain
- BitFury Signs a Memorandum on Cooperation with Ukraine’s Ministry of Justice
- Ukraine’s State Agency for E-Governance: Blockchain Will End Corruption
- BitFury Group Signs Agreement With Ukraine Government to Provide Blockchain Services
- BitFury Celebrates Its Fifth Anniversary
- Teechan: New Bitcoin Scalability Solution Unveiled