With Bitcoin’s Lightning Network nearing launch, a series of tests seeking to upgrade the micropayments network is on a rise.
Now, attention startup Colu has denounced a demo of how Lightning could be done concordant with colored coins (a record that enables tiny amounts of bitcoin to paint other assets, such as a US dollar, stocks, or even houses or cars). Mashing this judgment together with Lightning could meant some-more of these transfers during a aloft speed.
Users can now send exam exchange over a supposed “off-chain” network regulating Colu’s demo, that maybe offers a initial user-experience for a Lightning Network project. The group worked with a startup Lightning Labs, tweaking a existent formula to make it concordant with colored coins.
But are near-limitless transfers of debt annals unequivocally necessary?
Colu co-founder and VP blockchain Mark Smargon pronounced that he thinks that this functionality could assistance solve one of colored coins’ bigger problems, while surrender that it competence not be required for each use case.
He told CoinDesk:
“The biggest evidence opposite colored coins is it doesn’t give we scale right now. Bitcoin exchange are really delayed to verify, costly to approve and there is a bottleneck of a low volume of