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Lightning Network Payment is Trialed at Bars in Japan

HOME> News> Lightning Network Payment Trials Launched at Bars in Japan


Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

I have studied a wide range of technologies and applications of distributed ledger technology.

Nayuta, who is developing Layer 2 technology of public block chain, has tested and introduced bitcoin’s lightning network payment at the bar “awabar fukuoka” with its store in Fukuoka Prefecture.

In this project, software “Ptarmigan”, jointly developed by Nayuta with other blockchain companies, is used, and anyone who holds Bitcoin can experience awabar’s “immediate payment service”.

Lightning Network is a Bitcoin Layer 2 technology, an off-chain scaling solution that performs transactions ( exchange of token ownership ) within a multi-sig wallet called a “channel”.

Within the channel, there are unlimited and multiple transactions, and when the channel is closed, only the final account is recorded in the block chain, which saves the cost of recording all the transactions.

While Lightning Networks can help reduce transaction costs and increase processing speed on a blockchain scale, the per-channel performance tends to depend on its volume.

In this testing, Nayuta will secure the channels and liquidity of the Lightning Network.

Article Source: PR TIMES

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Author: Yuya 【Coin Desk News】 – Source Post: http://destyy.com/w1WUtt

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