Qtum, the open-source public blockchain platform, today launched its test version of the Lightning Network implementation, Eclair. The Qtum Eclair implementation will drive Qtum toward processing massive transactions, a capability needed by mainstream retailers and payment processors, as well as enable payment channel creation, real-time transactions, and micropayments on the Qtum network.
Blockchain scalability is the key to processing massive transactions. Qtum Eclair establishes a large number of lightning network channels off Qtum’s main chain, enabling greater scalability and allowing transactions to happen in real-time — as any consumer making a purchase at a store or using a mainstream payment method would expect.
Any two peers using the Qtum Eclair-enabled network can link multiple channels to perform fund transactions and complete value transfers without needing to trust third parties for fund custody and settlement. Transfers between untrusted parties can be made off-chain, enhancing user privacy.
“At 70 transactions per second (TPS), the Qtum network already exceeded the Bitcoin network 10 times over, but we knew that wasn’t enough. To meet the needs of e-commerce giants and outpace major payments platforms, we set our sights on achieving massive transaction volumes. Today, with Qtum Eclair, we’re taking a crucial step to exponentially increase the Qtum networks’ TPS capability and demonstrate our commitment to continuously advancing our enterprise-ready platform.”
– Qtum CIO Miguel Palencia
Qtum Eclair is based on ACINQ’s Eclair Lightning Network implementation, which enables functions such as channel creation, real-time, and microtransactions on Qtum.
To download a core wallet that supports Qtum Eclair, visit GitHub.
Discussion about this post