First testnet Particl (PART) Lightning Network (LND) transaction successful

Last week, Particl’s Core Developer and Cryptographer, Tecnovert, successfully conducted the first-ever Particl Lightning Network (LND) transaction (links below). Particl is an open-source and decentralized privacy platform built on the blockchain specifically designed to work with any cryptocurrency.

https://explorer-testnet.particl.io/tx/bd6f69315e9413e5f8b987fb676d192c28e8e1b15a611701bf1cdecb090f9552 
(Fee: 0.00000963 PART)

https://explorer-testnet.particl.io/tx/aa55ef38ee1f619de8ea00d02a403f2508bae87d98978d868230e8a67e804b72
(Fee: 0.00001831 PART)

The Lightning Network (LND) is a payment protocol that runs parallel to a blockchain. It enables fast payments at a near-zero fee and can scale extremely well, making it ideal to accommodate large numbers of transactions per second. The Lightning Network can, in theory, support many more transactions per second than to credit card providers and popular online payment processors.

LND will support the Particl blockchain and allow it to support large amounts of traffic without being negatively impacted by it. It is an important piece for the envisioned Particl technology stack and is instrumental to the network’s ability to reach mainstream adoption.

What the Lightning Network also enables is the decentralized, cross-chain exchange of cryptocurrencies. When two blockchains both have compatible Lightning Network implementations running, cross-chain cryptocurrency trades can be executed without any intermediary being required to ensure both parties stay honest and honor their end of the deal. This type of exchange is very similar to atomic swaps, but potentially more flexible.

Lightning Network (LND)

[perfectpullquote align=”full” bordertop=”false” cite=”The Particl Team” link=”” color=”” class=”” size=””]”There is still a lot to do, more stability to achieve, and more testing required before Particl LND can be used with real funds. This script lays the foundation of what will later become a much more user-friendly integration of the Lightning Network on Particl, but at the moment, it is still reserved for the more advanced users. One thing we are particularly excited with is the integration of Confidential Transactions onto the Lightning Network, or what we like to call BlindedLightning. This untraceable version of the Lightning Network will become an important piece of Particl’s technology stack and will let the public benefit from a lightning fast currency that provably respects their right to privacy!”[/perfectpullquote]

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