At a recent Bitcoin conference, CEO and Co-Founder of Lightning Labs, Elizabeth Stark, spoke about the future of the Lightning Network. The conference, called Baltic Honeybadger 2018, was held in Riga, Latvia earlier this week and brought together notable Bitcoin leaders like Saifedean Ammous, Peter Todd, Adam Back, and Stark to discuss the current cryptoasset landscape.
Stark’s talk detailed the advancements Lightning has made in recent months and provided future milestone’s for Lightning’s future development. Stark said that last November had the first ever Lightning atomic cross-chain swap between litecoin and bitcoin.
If Alice wishes to convert 20 bitcoins into Bob’s equivalent amount of litecoin, Lightning can trustlessly facilitate the transfer without a third party. Stark said that atomic cross-chain swaps are exciting features currently in progress.
In her talk, Stark said she wanted to emphasize that Lightning technology is not only a scaling solution for high-volume payments on the Bitcoin network, but also secondary infrastructure that developers can built on top of. She added that there are several fledgling applications like yalls.org, a micropayment site where users can pay for articles or tip authors using microtransactions.
Furthermore, several iterations of desktop clients have been promising, Stark said. People are using Lightning, and it works. Moving forward, the focus is on bringing security, privacy, and streamlined user experiences to more people.
“We want secure software. We believe we should have secure financial software. Neutrino mainnet will be coming soon, which will enable lnd mobile apps. And desktop apps won’t have to sync the entire blockchain,” she said.
Neutrino is a Lightning Labs’ open platform that brings the speed and efficiency of Lightning transactions to mobile users. Neutrino uses what Lightning Labs calls “light clients” that leverage security and privacy previous iterations could not. Stark said that Neutrino will get more updates in the future.
As Lightning continues to build outward, more mobile solutions and robust desktop applications will set the foundation for Lightning to become a widely used secondary infrastructure for the Bitcoin network.
Monitoring the progress of scaling solutions like Lightning paints a different picture than what Twitter opinions and Reddit posts seem to put forth. Lightning Labs is doing a fantastic job of scaling Bitcoin and is a sure leader in its efforts.