Lightning Labs announced the beta release of their Lightning Network Daemon (LND). LND is a software client used to access Bitcoin’s Lightning Network. The Lightning Network has been a long awaited breakthrough that will allow bitcoin payments to be cheaper and faster. The Lightning Network will also help the cryptocurrency scale to millions of new users and allow Bitcoin to once again be used as digital cash over a store of value.
Lightning Labs beta LND release took more than a year of testing done by thousands of developers and volunteers from all over the world. There are other implementations of the Lightning Network in development as well. LND is the first to see a beta release. All of the future Lightning Network implementations will be compatible with each other.
In addition to the release of LND, Lightning Labs also has announced they have received financing from some of the most well known players in cryptocurrency and the tech industry. A few of the most well known investors in Lightning Labs include Square and Twitter CEO Jack Dorsey, former PayPal COO David Sacks, Robinhood stock app co-founder Vlad Tenev and Litecoin Creator Charlie Lee participated in financing Lightning Labs.
The beta LND will not only support Bitcoin, Lightning Labs has announced that LND will support Litecoin as well.
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