First Bitcoin Mainnet Lightning Network Product Launches As Developers Net $3.0 Mln
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Lightning Labs released the first Bitcoin mainnet-ready Lightning Network (LN) implementation today, March 15, in what the company describes as an “important milestone”.
In a blog post, Lightning Labs, whose product Lightning Daemon (lnd) helps developers easily connect to the LN, described it as having “the necessary safety, security, and fault-tolerance features required for real-world, real money usage.”
The release comes as the company announced completion of a seed finance round worth $2.5 mln, participation in which came from some of the cryptocurrency industry’s biggest names.
Square and Twitter founder Jack Dorsey and Litecoin creator Charlie Lee led the list, which also includes Square Capital’s Jacqueline Reses and ex-PayPal COO David Sacks.
Reacting online, social media commentators celebrated the advance, with Lightning edging closer to offering Bitcoin users practically free and instant transactions.
Lnd also debuted with support for investor Lee’s Litecoin.
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