ico.allrypt.tech / News
Pizza day lightning network? First Purchase For A Lightning Network
The first physical transaction can be completed in a lighting network two days ago, according to the Reddit user /u/btc_throwaway1337 who bought a VPN router through the payment channel provided by TorGuard.
The Lightning network is designed to scale Bitcoin to a global user base, operates by opening and recording of the channel between two users on the Blockchain, and transactions are recorded only on the original Bitcoin Blockchain after the closure of the channel.
According to his message, the buyer opened a channel and made an instant transaction, amazingly, not paying anything in fees. He said
"I'm just your average enthusiast BTC, which had some extra time last weekend. I saw a tweet TorGuard, so I decided to contact them. I asked about buying more than just a monthly subscription, their staff gave me the information peering LN, I opened the channel, got the invoice, and here we are!
Everything was quick, easy, painless, and most importantly: instantly and for free!”
With the information of the public, TorGuard offer a warning to users in respect of-network coverage, saying that it was not yet ‘ready’. The company offered to cover any loss that may arise from the use of the system.
The completion of the first ever physical purchase online Lightning is an important milestone in the development of Bitcoin, akin to the famous pizza night.
Over the last few years the increase in transaction fees and time to the network of Bitcoins has made direct purchase of Bitcoins at competitive prices almost impossible, forcing users to switch to other cryptocurrencies.
The ability to send nearly instant, free transactions may re-allow small purchases to be made directly with Bitcoin.
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