29 May '15, 3pm

Blockstream Starts Development on the Lightning Network #bitcoin

The authors of the much-discussed Bitcoin Sidechains paper “Enabling Blockchain Innovations with Pegged Sidechains ,” released in October, have formed the company Blockstream to develop new ways to accelerate innovation in digital currencies, open assets and smart contracts. In November, Blockstream closed a $21 million seed funding round with nearly 40 investors, including well-known pioneers of the Internet and financial services sectors. The Bitcoin Sidechains paper envisages an ecosystem of “sidechains” separate from the main Bitcoin blockchain but interoperable with it. A sidechain can carry bitcoin as currency, in which case users will be able to seamlessly transfer bitcoin between the sidechain and the main blockchain. At the same time, the sidechain can implement changes from Bitcoin Core. For example, a sidechain can implement more powerful scripting features or m...

Full article: https://bitcoinmagazine.com/20618/blockstream-starts-deve...

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