ZigZag Lightning Network Payment Channel Launches On Mainnet
ZigZag.io Lightning Network Payment Channel Launches on Mainnet
The Lightning Network payment channel ZigZag.io announced on September 8 that it has launched on mainnet. In this way, users would be able to exchange the most important virtual currencies with the lowest fees possible.
In order to use such exchanges it is necessary to have a Lightning Network enabled wallet. There are some wallets such as Zap, Eclair, Lightning and many others that have the same functions. Besides being virtual currency wallets, they allow instant sending and receiving of payments using the so called Lightning Network (LN).
At the moment, the virtual currencies accepted at the exchange are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash and Bitcoin Cash (BCH).
ZigZag has been created by Bitulm, a company that works with the LN trying to build products and services on top of it. In the future, ZigZag’s team commented that they will be adding support to new virtual currencies.
The Lightning Network is a second layer scaling solution for Bitcoin that would allow it to scale up to million transactions per second and minimum fees. With the LN Bitcoin may finally solve the scaling issues it currently has and that it is facing.
Additionally, ZigZag wants to adopt Atomic Swaps. In this way, it may be possible to eliminate the need for trust in 3rd party custodians. The LN has been growing in the last months and has reached an interesting number of operative nodes (3412 public nodes).