Stellar cryptocurrency startup plans to join the network Lightning. The project developers have released a formal specification describing how and when they plan to integrate payment technology, originally developed for bitcoin.
It is noteworthy that for the first time to implement a proposed Lightning co-founder and technical Director of the Stellar Development Foundation, McCaleb jed (Jed McCaleb) in 2015.
“Scalability is one of our main priorities for next year. The hype is ahead of reality blockchain-space — plans are huge. The problem is that this technology is not able to realize what people want today,” said McCaleb in an interview with CoinDesk.
In addition, McCaleb noted that in this step, insist the project partners.
Recall that when Ethereum are faced with problems of growth, mobile app messaging Kik has decided to transfer its network tokens Kin with blockchain for Ethereum Stellar. But, as recognized McCaleb, platform Stellar is not able to cope with all the transactions of the messenger.
In addition, the project partner is the tech giant IBM, in cooperation with which a system transaction based cryptocurrency Lumens. The implementation of “ambitious plans for using the network banks” will also require greater scalability of transactions.
“We know that, if they used Stellar as he wanted, Stellar would not have made it,” says McCaleb. — “Before people will be able to use the platform, it must be prepared.”
Perhaps the solution to these problems will help Stellar Lightning. Note that the announcement about the integration was made a few days after startup Lightning Labs has released the first software Lightning for real-world transactions of bitcoins.
Recall that this launch was preceded by a long period of development and creation of the beta, first announced in December last year. According to McCaleb, Stellar will be able to implement technology faster than bitcoin:
“Now that it’s working in bakounine, our business will go faster”.
Of course, the Stellar developers can’t just port code that works today with bitcoin. Most likely, they developed their own unique version. To this end, they drew Jeremy Rubin (Jeremy Rubin), a leading developer of Lightning, and member development on the core Bitcoin Core.
As for the near term, in the specification, Stellar says that by 1 April the project plans to launch the first elements of the technology on the test network, and makes ambitious plans to release an implementation for actual payments by the autumn.