The Beam Confidential Coin (BEAM) has announced that it plans to submit a Mimblewimble-compatible lightning-fast network (LN), according to a document released February of Beam 12.
Beam's main goal for implementation Lightning Network, which would allow the use of a layer XNUMX scaling solution to quickly transfer value off-chain, is to improve the altcoin in commercial settings where payments require quick confirmation.
Although the article by Bima says that their operating capacity is three times higher than that of Bitcoin (BTC), the document says that it is not at the same level as other large payment systems.
As stated in the document, there are no deadlines when Beam plans to implement LN on its platform. However, February 7 Beam published a blog post on Medium, which states that the top Altcoin Litecoin (LTC) turned to Beam for possible cooperation on the implementation of Mimblewimble using expansion units.
February 11 Twitter and Square CEO Jack Dorsey spoke about the possibility of deploying the Lightning network for the Square Bitcoin payment platform. As reported by the Cointelegraph, the implementation date is not specified, but Dorsey made remarks, saying that it was a question of "when, not if."
The Lightning network adds another level to the blockchain and allows users to create payment channels between any two parties at this additional level. Lightning-fast nets were first described in a white paper by Joseph Punem and Taddeus Drayy in 2015. Currently, Ethereum (ETH) also has its own version of the lightning network Raiden.