California startup Lightning Labs released beta of LND software that enables users to send cryptocurrency faster, more securely, and in high volumes outside of blockchain

Briefing

April 17, 2018

Briefing	LND in Beta – California startup Lightning Labs released beta version of software Lightning Network Daemon (LND) that users can leverage to send Bitcoin and Litecoin to each other without passing through blockchain Benefits – Allows for immediate more secure transactions, very low transaction fees, and increased volume of transactions, from millions to billions per second, compared to what is possible on Bitcoin's blockchain High Profile Investors – Raised $2.5 million in seed funding from Square and Twitter co-founder Jack Dorsey, Square executive Jacqueline Reses, Litecoin creator Charlie Lee, and BitGo Chief Technology Officer (CTO) Ben Davenport Open Source – Software freely accessible, with volunteer testers helping to find bugs in original alpha version and developers contributing code on GitHub Payment Limitations – Limits amount of cryptocurrency people can send for now to $1,400 per channel or $400 per payment
Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Market Disruption	New Payment Technologies
Sector	Information Technology
Organization	Lightning Labs
Source	Cuen, L., "Lightning Labs launches beta with Twitter CEO backing", CoinDesk, http://www.coindesk.com/; Loizos, C., "Lightning Labs just raised millions from Jack Dorsey and others to supercharge blockchain transactions", TechCrunch, https://techcrunch.com/; AcceleratingBiz analysis
Original Publication Date	March 16, 2018

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