RATE Group | This Tech Lets You Send Any Cryptocurrency to the Lightning Network
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This Tech Lets You Send Any Cryptocurrency to the Lightning Network

08 Sep This Tech Lets You Send Any Cryptocurrency to the Lightning Network

Posted at 18:07h in Cryptocurrency News by

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Did you know? Lightning addresses and bitcoin addresses are not compatible.

What that means is that a user can’t send money from their lightning address directly to a recipient bitcoin address, or vice versa, without going through an additional step to transferring their lightning funds into a bitcoin account of their own.

Seems counterintuitive, especially since the layer-two technology for transacting off-chain, is touted as a way to revolutionize the protocol to scale – more users and more transactions. And yet, there’s this incompatibility between new off-chain lightning transactions and old-school on-chain bitcoin ones.

One developer, though, has been working on a possible solution, and it was inspired by an interoperability technology that’s been slowly gaining steam – atomic swaps.

Lightning Labs developer Alex Bosworth was looking into atomic swaps, a technology that allows the native cryptocurrency of one blockchain to be traded with another with no middleman when…

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