Lightning Network is the Bitcoin story that matters in 2019

Offchain Second Layer Scaling Networks.001For general background, please go to this chapter of The Blockchain Economy digital book.

If Lightning Network works, Bitcoin will become more than a store of value. It will also become a currency for regular use. If not, Bitcoin may be relegated to the dustbin of history.

A lot of Altcoins will decline in value if Lightning Network works. Governments will lose control of their Fiat printing presses. Credit Cards and Banks will lose control over payments.

So there is a lot at stake. 

As of today, mid March 2019, Lightning Network is in that grey area between cool science project and mainstream adoption. We see straws in the wind indicating progress towards an ecosystem that will support mainstream adoption such as:

Sparkswap is the first cryptocurrency exchange built on the Lightning Network.

Wallet that works with Lightning Network

The world’s first self-order point using Bitcoin via Lightning Network at Energy Kitchen in Bern. (My personal favorite as it is in my home town, Bern, and I have eaten there). 

Micropayments using Lightning Network with tech celebrity endorsement.

A directory of places where you can pay via Lightning Network.

For general stats on traction and capacity, look at Bitcoin Visuals 

Sceptics will point out that Lightning Network is still in it’s early days and not yet proven. 2019 is the year Lightning Network has to be proven at scale or be relegated to the dustbin of history. I am betting that it will make it.

Bernard Lunn is a Fintech deal-maker, investor, entrepreneur and advisor. He is the author of The Blockchain Economy and CEO of Daily Fintech.

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