As we are now stepping into the second half the second month of this year, we are seeing that different firms are already trying out tests of the lightning network. These tests are not going as swimmingly as one would expect primarily because individuals are using real Bitcoin on a test network and are experiencing losses, but it seems that, in other regards, the tests are going well.
Why is the Lightning Network important?
The lightning network will serve as one of the much-needed implementations to help Bitcoin get past its current woes and obstacles in regards to scaling and minimizing congestion and high fees in the network. The LN implementation will make it to where there is a significant increase in the speed of payments via the use of smart contracts. The transactions don’t have to take place on the main chain minimizing concerns in time for the confirmation of blocks. Importantly, there is no need for a third party, peer to peer transactions can happen in a streamlined manner, allowing Bitcoin to potentially exceed transactions that take place on Visa or other networks.
Zap and the Lightning Network
As the year progresses, more firms are trying their hand at the lightning network implementation. The latest project to do so has been Zap.
The lead developer in charge is Jack Mallers, who has notified the community that Zap Lightning Network wallet will be ready for testing this coming week. Remember that is available on the testnet and not on the mainnet, the mainnet could have issues, making it to where funds may be lost, and developers would have to serve as customer service representatives instead of working on high priority protocol development tasks.
See a tutorial for yourself!
The developer is seeking to make this an open source project, by the community, for the community.
“Throughout bitcoin’s evolution, we have seen many companies create and follow incentives that misalign with the broader community and its users because they are beholden to their initial business model and/or their outside investors. This creates an unhealthy relationship between their financial incentives and the users actually using their product(s) — more often than not resulting in decisions made against the best interest of users and their experience.”
Users will be able to download Zap for Windows, Mac, and Linux here.
An open source Lightning Network UI friendly project that is led by Jack Mallers. The Lightning Network Wallet allows for connecting to a peer, opening a channel, making a payment request, and making a payment over LN on bitcoin’s testnet.
Community drive open source LN UI that has no other incentive than simply benefiting the users. Dedicated to delivering beautiful interfaces along with a great experience as bitcoin enters a more consumer-facing era. Zap will be a fully open source with a completely open development policy.
The Zap Wallet Lightning Network is a project that will be the community by the community.