Micropayments in Bitcoin can now be scheduled in Rust

Key facts:
  • A Lightning node programmed in the Rust language connected to this network.

  • LNP / BP Partnership Leads Bitcoin’s Lightning-Based RGB Project

Yesterday, December 22, 2021, the LNP / BP association reached a remarkable milestone in the development of its projects: to connect a node and open a channel of the Lightning network of Bitcoin (BTC) using a programming language different from that used in one of the most popular implementations of this specialized second layer solution for micropayments.

The Dr. Maxim Orlovsky, main developer of the project, shared the news on Twitter. The RGB node, programmed in the language Rust, was connected to another node of c-lightning, an implementation of Lightning programmed in the C language, and developed by the company Blockstream.

This constitutes a relevant advance in terms of compatibility of different programming languages ​​in Lightning and Bitcoin, allowing projects to choose how to work flexibly without losing attributes that cannot be sacrificed, primarily the security of the protocol and its users.

From the foundation’s Telegram announcement channel LNP/BP, which leads the RGB project, the importance of an LNP node programmed in Rust being able to connect to a c-lightning node, programmed in C was explained:

The main difference of the LNP node from other implementations will be the support it will give to the ‘next generation’ Lightning network, called Bifrost, which supports Taproot, RGB assets, multi-user channels, discrete registration contracts (DLC), and so on.

However, full interoperability with Lightning is still of the utmost importance and the same LNP node could be used as any other Lightning node very soon, even before Bifrost was fully developed.

LNP / BP Foundation

This is the Lightning channel opening transaction between the protocol
RGB and the c-lightning implementation

The Lightning Network: A Fundamental Tool For Bitcoin Scalability

For a long time, critics of Bitcoin have argued that this protocol does not scale, that it runs the risk of becoming a dinosaur (not living, but fossilized), losing its place and prestige compared to other cryptocurrencies that offer other functionalities.

For their part, Bitcoin enthusiasts and developers have emphasized that blockchains do not scale, and that the state of affairs on the mainnet should remain more or less the same or uniform over time. The robustness and resilience of Bitcoin “is not a flaw, it is an advantage,” they argue.

With these reasons, the scalability of Bitcoin has been concentrated in the Lightning network, a second layer solution (without blockchain). It consists of a network of nodes and payment channels that has been very useful for sending very small amounts of satoshis (bitcoin fractions) at very low cost, which is often called “micropayments”; but also large quantities due to the exponential increase in capacity.

Several projects seek to exploit the full potential of this network. For example, RGB can be mentioned, which is constantly looking for a way to scale Lightning beyond its current capabilities. With this protocol it will be possible to issue fungible and non-fungible tokens (NFT), deploy smart contracts and much more.

Recently CriptoNoticias interviewed the developer Francisco Calderon, who works for RGB, and considers that this protocol will bring transactions confidential, secure and with minimal commissions to Bitcoin, thanks to the ability to create complex smart contracts without using a parallel chain; validating your operations with the main Bitcoin chain.

We would like to give thanks to the writer of this post for this remarkable material

Micropayments in Bitcoin can now be scheduled in Rust

Dispensary Business News