HashPlex releases Lightning Network implementation

Lightning Network is an off-chain solution for Bitcoin network expansion.

Hosting company HashPlex released an alpha version of the Lightning Network’s central implementation, while developers continue to improve the layer (sometimes called layer-2) on testnets.

It is reported that this Python version of the Lightning Network implementation uses an open source Bitcoin node, and its integration test is carried out on the local network, including 3 Bitcoin nodes, which users can use to open a channel, close a channel, unilaterally close a channel, and send and receive payments. According to the developer, these three nodes can make transactions nearly instantaneous.

Currently, the Bitcoin network only supports about 7 transactions per second, while Visa supports about 45,000 transactions per second. To address this gap, the Lightning Network enables the Bitcoin network to achieve faster and higher-capacity transactions (as illustrated in the graphic below).

“As of now, our hub can run securely on the Bitcoin testnet with Blockstream’s ‘alpha net’ (which allows for Lightning as well as sidechains),” explained HashPlex founder Bernard Rihn.

It is reported that the project is led by developer Jasper Hugunin. HashPlex will run a lightning network center and plans to open source all future protocol work.

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