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Lightning Network Is Live... Maybe? by realmsofcrypto

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· @realmsofcrypto ·
$1.45
Lightning Network Is Live... Maybe?
![](https://steemitimages.com/DQmS6cRRU3V8G8aC67yQJ1usuyZYKXSG57EqfcMoss5qWeM/image.png)
# Even though the Lightning Network for bitcoin is still technically in it's testing stage, that has not discouraged some from implementing the protocol on the main net.
 
Right now there are some big names staking bets on the viability of the Lightning Network. Currently both Blockstream and TorGaurd, and perhaps others, have begun accepting payments for goods and services via the network. The Lightning main net explorer suggests more than $33,000 worth of BTC has been transacted via Lightning Networks. It goes to show how much scaling was really needed on the bitcoin network.  The lure of instant & free transactions has not dissuaded people from the risks associated with using the technology in it's current beta format. 

Yet some have criticized the decision to transact real bitcoin on LN. Some have even gone so far to say it is an outright terrible idea. Others hold the notion that real world testing will strengthen the network. Currently the network has 295 nodes, 801 channels and is over 3.6 bitcoins in capacity. 

However Lightning Labs, the lead development team of LN, stated that using LN on the main net will actually slow down the development processes. Currently only ten developers are working on the project, and because of the increasing use Lightning Labs has actually asked to users to stop transacting live bitcoin over the system, stating that, "It has become an unnecessary distraction for our devs."

Time will tell if LN will ever become the de facto processing platform for small and medium transactions. An increase of developers and further testing will be a boost, but with bitcoin gaining in popularity every day the race is on to provide a working, yet stable and safe product, to the mass of people bottlenecked by the current limitations of the bitcoin protocol.

Source [Here](https://www.coindesk.com/bitcoins-lightning-network-problem-people-already-using/)
👍  , , , , , , ,
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vote details (8)
@medicbtom ·
I read some people have reported losing btc due to lightning network. FUD? or is this real?
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@realmsofcrypto ·
$0.05
Yes, it has happened. https://twitter.com/rusty_twit/status/953043039701819392
👍  
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@twitterbot ·
### ![rusty_twit](https://pbs.twimg.com/profile_images/931391090896154625/3PaRW3P3_normal.jpg) **[TheRustyTwit](https://twitter.com/@rusty_twit/status/953043039701819392)** tweeted @ 15 Jan 2018 - 23:15 UTC

> So, who was first to lose money on [#LightningNetwork](https://twitter.com/search?q=%23LightningNetwork) [#bitcoin](https://twitter.com/search?q=%23bitcoin) mainnet?  My channel was 496811:2089:1 (… [twitter.com/i/web/status/9…](https://t.co/jW3Q8U8E1E)


###### *Disclaimer: I am just a bot trying to be helpful.*
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@mercurybot ·
re-realmsofcrypto-lightning-network-is-live-maybe-20180128t111950393z
You got a 2.20% upvote from @mercurybot courtesy of @realmsofcrypto!
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@seakraken ·
re-realmsofcrypto-lightning-network-is-live-maybe-20180128t125410236z
Release the Kraken! You got a 12.50% upvote from @seakraken courtesy of @realmsofcrypto!
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@upvotewhale ·
This post received a 0.021 SBD (0.21%) upvote from @upvotewhale thanks to @realmsofcrypto! For more information, check out my profile!
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