One of the main companies behind the Bitcoin Lightning Network, Lightning Labs, has completed a major milestone today. The company, which has been focusing its efforts on creating a world in which the Lightning Network scaling solution is widely used, has considered the launch to be very important.
Initially, the app was already being used on the Bitcoin testnet, which was a technology that was being used in order to test apps with “fake Bitcoins”. Now, however, users will be able to really use the services on their real Bitcoins.
The app is fully non-custodial, meaning that the owners will have full control over their Bitcoin, and will allow people to send and receive Bitcoin easily. It was created by Valentine Wallace and Tankred Hase, two Lightning Labs developers.
They described the launch of the app as a “complete commitment” to scaling the principles of which Bitcoin was created upon: security, privacy and self-determination. This is a service for people to use if they want to go beyond custodial solutions.
While there are other similar apps in the market today such as Zap, Zeus and Bluewallet, no one was created by a company as influent and big as Lightning Labs. This is the largest company to release a product on the Bitcoin mainnet until now, so this is a huge deal for the moment.
According to the announcement, the technology will work on three operating systems: Windows, MacOS and Linux-based devices. A release for mobile devices is already being planned and the company has affirmed that it will move into this industry soon.
Unfortunately, the release is still not aimed at the general public, since the product was clearly aimed at the most tech-savvy users of the Bitcoin network, the ones who want to see the boundaries of the technology being pushed instead of getting everything done for them.
There is the risk of losing your assets, too, as the tech is still somewhat experimental. This is, in fact, the major problem that still exists in the Lightning network until today. Despite all the upgrades in technology recently, there are still problems that can make people lose money.
The product is said to incorporate the Neutrino technology as well, which is a light client that requires people to download a smaller part of the Bitcoin network in order to verify their transactions. Neutrino is currently one of the most private light client technologies around so it is considered to be a very important technology.
According to the two main developers who worked on the solution, this release is a stepping stone towards a more stable performance and they affirmed that better versions of the project will be launched soon.