Monday March 08, 2021
Bitcoin (BTC) $49,699.00   Ether (ETH) $1,681.38
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Crypto Payments

Interstellar shows preview of Starlight for bidirectional payment channels on Stellar

Published by CryptoNinjas.net
10/25/2018
Interstellar shows preview of Starlight for bidirectional payment channels on Stellar

Interstellar, today announced a preview release of Starlight, an implementation of bidirectional payment channels on Stellar. Payment channels allow parties to transact privately, instantly, and securely, while paying zero fees. Normally, making a payment on a network like Stellar involves publishing details of the payment to all observers, paying a small fee, and waiting for the network to reach consensus and confirm the payment.

A payment channel, on the other hand, uses the network to “lock up” some funds for use by the channel’s participants. They may then pay each other these funds without further involving the network. Such payments are thus private, instant, and free.

The security of the channel is ensured by special information exchanged between the participants with each payment. This information includes signed Stellar transactions that are not published to the network until one party chooses to close the channel. When the channel is closed, these “settlement transactions” send to each party’s Stellar account their respective share of the balance, taking into account the channel’s history of payments back and forth.

Only the final settlement balances are revealed to the network when the channel closes. All other activity in the channel remains private and known only to its participants.

Starlight payment channels are analogous to the Bitcoin payment channels used in the Lightning Network. As the Interstellar team extends the Starlight project to support not only payment channels but also multi-hop payments across those channels, they plan to build in compatibility with other payment-channel networks, such as Lightning and Interledger.

Video Preview:

This preview release supports bilateral channels (channels with exactly two participants). It includes the Starlight payment channel software as well as a built-in wallet application. It allows transacting in lumens only (the native asset of the Stellar network). Future versions will support any asset issued on the Stellar network.

This is an early demo release, and users should expect bugs as well as frequent incompatible upgrades. Until the team works out the kinks, Starlight connects only to the Stellar testnet, not the mainnet, to eliminate the risk of losing real funds to a software bug. Please do not attempt to use this application with the Stellar mainnet.

Those interested can download the Starlight application, read the source code, and try the demo.

Interstellar was formed last month when Chain, a creator of cryptographic ledgers for financial products announced it has been acquired by Lightyear Corporation, a Stellar-focused commercial entity. Interstellar’s product portfolio includes StellarX, a recently launched marketplace to access trading assets on Stellar.

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Stellar Development Foundation invests $5M in blockchain payment app Wyre
Capital Raising

Stellar Development Foundation invests $5M in blockchain payment app Wyre

01/26/2021
Stellar Development Foundation invests $3M in Settle Network
Capital Raising

Stellar Development Foundation invests $3M in Settle Network

12/17/2020
SIMBA Chain launches payment app for use on Stellar
Networks & Protocols

SIMBA Chain launches payment app for use on Stellar

08/11/2020
Samsung Galaxy mobile phones integrate Stellar (XLM) blockchain
Vendor Technology

Samsung Galaxy mobile phones integrate Stellar (XLM) blockchain

07/15/2020
Stellar marks first major release of open-source API with Horizon 1.0
Featured

Stellar marks first major release of open-source API with Horizon 1.0

02/25/2020
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version