Bitfury Introduces ‘Flare’ Routing Solution for Lightning Network

Kprawn

legendary

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Before you get too exited : " The paper is meant to be a proposal and not an official implementation, as the Lightning Network still has a ways to go. The idea of LN itself is to use off-chain payment

channels that mitigate transaction malleability and enhance speed. Smart contracts help maintain rules that are followed accordingly across the network with an LN implementation. " So we might have

to wait for a couple of years for this one. Still nice to see people trying to develop a workaround for the scaling problems. Grin

ebliever

legendary

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I like the emphasis on maintaining decentralization. For those interested, here's a link to basic Lightning Network info:

http://lightning.network/

CjMapope

legendary

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~Full-Time Minter since 2016~

Quote from: Posternut on July 08, 2016, 12:41:04 PM

Bitfury Group has recently introduced a 40-page white paper, which proposes a routing solution for the Lightning Network (LN). Dubbed “Flare,” the concept is an approach to payment routing that involves nodes gathering data concerning the LN topology. The researchers performed tests with the routing algorithm and found it to be scalable with at least 100,000 nodes.

https://news.bitcoin.com/bitfury-introduces-flare-lightning/

so if im understanding this correctly, flare is a lightning network, so this is bitfury's way of scaling w/o having to increase block size?
if so that may be a way to bypass all the hee-hum going on for months about block size, hmmm interesting
reading whitepaper now.

European Central Bank

legendary

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sounds good. i'll sit back and wait and see what a fully functioning implementation looks like before getting too excited. there's alot i can't quite wrap my head around.

beastmodeBiscuitGravy

full member

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Quote

Yep, I saw this yesterday, I also saw the Fibre [iteration of the separate, blockstream-employee-ran block relay network only used by big mining pools] news, very, very interesting and good news, Bitcoin-IOU smart contracts have a very promising future to take over the the entire planet and be a better performing means of transaction than any other platform on earth, and we will give control of Bitcoin to big datacenters running Lightning-type payment contract hubs thanks to technologies like this.

ftfy

pereira4

legendary

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Yep, I saw this yesterday, I also saw the Fibre news, very, very interesting and good news, Bitcoin has a very promising future to take over the the entire planet and be a better performing means of transaction than any other platform on earth, and we will not to give control of Bitcoin to big datacenters running nodes thanks to technologies like this.

Posternut

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Merit: 10

Bitfury Group has recently introduced a 40-page white paper, which proposes a routing solution for the Lightning Network (LN). Dubbed “Flare,” the concept is an approach to payment routing that involves nodes gathering data concerning the LN topology. The researchers performed tests with the routing algorithm and found it to be scalable with at least 100,000 nodes.

https://news.bitcoin.com/bitfury-introduces-flare-lightning/

Topic: Bitfury Introduces ‘Flare’ Routing Solution for Lightning Network (Read 477 times)