BitFury Lightening Network Successfully Tested with French Bitcoin Company
French Bitcoin technology company ACINQ has successfully tested and implemented leading Blockchain technology company Bitfury’s algorithm solution for instant payments routing on the Lightning Network.
Bitfury’s Lightning Network-based algorithm solution Flare was introduced in July 2016 in collaboration with the Lightning Network team, with the vision to deploy a hybrid routing algorithm,
The objective and intention behind the creation of Flare was to establish a more efficient and improved ecosystem for the settlement of microtransactions in the Bitcoin network. The BitFury development team believed that Flare could open Bitcoin to a wider range of use cases, such as peer-to-peer incentive-based file sharing platforms and applications.
Traditionally, micropayments on the Bitcoin network take longer than normal payments to be verified and authenticated by miners globally due to their substantially lower transaction fees.
Micropayments worth 2 ~ 3 cents could take significantly longer time than normal transactions that include 2 ~ 3 cents in transaction fees, as miners prefer to prioritize transactions with higher incentives.
This post was published at Coin Telegraph on 2016-09-29.