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Lightning Network’s Pizza Day? First Ever Physical Purchase On Lightning Network by tarekstronghold

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· @tarekstronghold ·
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Lightning Network’s Pizza Day? First Ever Physical Purchase On Lightning Network
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<div class="post-full-text contents" itemprop="articleBody"><p dir="ltr">The first ever physical transaction may have been completed on the&nbsp;<a href="">Lighting Network</a> two days ago,&nbsp;<a href="https://www.reddit.com/r/Bitcoin/comments/7rkunw/lightning_the_future_just_arrived_at_my_doorstep/" rel="nofollow" target="_blank">according</a> to Reddit user <a href="https://www.reddit.com/user/btc_throwaway1337" rel="nofollow" target="_blank">/u/btc_throwaway1337</a>, who purchased a VPN Router through a payment channel provided by TorGuard.</p><p>The <a href="">Lightning Network</a>, designed to scale <a href="">Bitcoin</a> up for a global user base, functions by opening and recording a channel between two users on the <a href="">Blockchain</a>, with information about transactions only being recorded on the original Bitcoin Blockchain after the channel is closed. The Reddit user explained that he saw a tweet by TorGuard offering the service:</p><p>According to his post, the buyer opened a channel and completed the instantaneous transaction, amazingly without paying anything in fees. He said:</p><p>“I’m just your average BTC enthusiast, who had a bit of extra time last weekend. I saw TorGuard’s tweet, so I decided to contact them. I enquired as to purchasing more than just a monthly subscription, their staff gave me LN peering information, I opened a channel, received an invoice, and here we are!</p><p dir="ltr">It was all quick, easy, painless, and most importantly: instantaneous and fee-free!”</p><p dir="ltr">With the information public, TorGuard did offer a warning to users regarding the c-lightning network, stating that it is not yet ‘production ready’. The company offered to cover any loss of funds that may result from using the system.</p><p>The completion of the first ever physical purchase on the Lightning Network is a significant milestone in the development of Bitcoin, akin to the famous <a href="">pizza day</a>.</p><p dir="ltr">Over the past <a href="">several years</a>, the increasing transaction <a href="">fees and times</a> on the Bitcoin network have made direct Bitcoin purchases of low-price items nearly impossible, forcing users to switch to other cryptocurrencies.</p><p dir="ltr">The option to send near-instant, fee-free transactions might re-enable small purchases to be made directly with Bitcoin.</p> </div>
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@cheetah ·
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://cointelegraph.com/news/lightning-networks-pizza-day-first-ever-physical-purchase-on-lightning-network
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