First BTC Lightning Mainnet Release Occurred With Devs' Net $2.5 Million

First BTC Lightning Mainnet Release Occurred With Devs' Net $2.5 Million

This week, the Lightning Labs team of developers has presented what is believed to be the first Lightning Network fruition, ready for the main network.

New Interpretation of LN

The company announced its innovation on March 15 in an official message. Earlier, Lightning Labs created a product called Lightning Daemon, which assists devs in linking to the LN effortlessly.

This time, the company generated something which it calls features for the use of money in the real world. These traits Lightning Labs described as fault-tolerant as well as safe and secure.

Seed Finance

Such implementation of LN has been released right after Lightning Labs notified they winded up a seed finding stage worth $2.5 million. Crypto ecosystem household names took part in this process, by the way.

Among them, there are:

  • constitutor of a social network Twitter and mobile payment service Square – Jack Dorsey;
  • a former chief operating officer at PayPal David Sacks;
  • as well as Square Capital’s Jacqueline Reses.

Social Media Response

As the innovation was presented, social networks users started cheering it up. No wonder as with new version of Lightning crypto enthusiasts may get an opportunity to carry out instant remittances which would cost them almost nothing.

Who Is The Target Audience?

According to the Lightning Labs blog post, the LN mainnet release of theirs aimed at devs of potential Lightning apps, known as Lapps. Moreover, it is also intended for future router node operators as well as technical users.

Lightning Network itself experienced a preview release around three months ago. Since December 2017, it accumulated more than 1,000 nodes and 2,000 channels. However, it was often criticized.

In particular, Peter Todd, the dev at Core, said that he could not feel safe about releasing the tech too fast. He has fears it might collapse, so it requires in-depth testing.