Bitcoin Lightning Network

Bitfury Releases Stack of Tools to Support Lightning Network

American Blockchain Technology company Bitfury has announced the launch of a set of development and business tools for the Lightning Network on Wednesday.

The fact that Bitcoin’s Lightning Network is still under development did not hold back Bitfury from announcing a list of products to support the technology.

The products include developer tools, payment processors, hardware and software tools, open source lightning wallet, and last but not the least a public node called ‘The Peach’. The public Lightning Network node will allow users to create payment channels.

As per the announcement, the bundle of products is developed to enhance the ease of use of the Lightning Network by consumers and vendors.

The Lightning Network can be described as a layer two payments technology on Bitcoin. It was released in 2018, and it facilitates instant transactions without the need to store data on the Bitcoin Blockchain.

The set of new tools for the Lightning Network is developed by the Lighning Peach team from Bitfury. The Lightning Peach team focuses on the development of the Lightning Network.

The CEO of Bitfury, Valery Vavilov detailed on the products and how their introduction would encourage the adoption of Lightning Network. He said,

“By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.”

Bitfury had announced on January 16, 2019, the implementation of the Lightning Network on the cryptocurrency exchange BTCBIT in a Medium article.

The company said that the deployment of the Lightning Network on the crypto exchange will allow users to benefit from faster payments that cost less. The Medium article also detailed how the integration will enable users to use Bitcoin in their daily lives in an easy way.

Bitfury is Blockchain Technology company that is known for manufacturing crypto mining equipment. It had successfully completed a USD 80 million funding round last year in November. The funding was carried out by the venture capital firm Korelya. As per the company’s agenda, Bitfury aims to foster the mass adoption of Blockchain Technology.