“Petrel”: a new implementation of the Lightning Network for Bitcoin

“Petrel”: a new implementation of the Lightning Network for Bitcoin

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“Petrel”: a new implementation of Lightning Network for Bitcoin is presented Japanese startup Nayuta presented its own implementation of Lightning Network technology for the main Bitcoin network, focused on the Internet of things (IoT), CoinDesk reports.

The name of the Lightning client sounds like Ptarmigan, which in Japanese is petrel. This is the fourth implementation of the technology in the main Bitcoin network after Acinq, Blockstream and Lightning Labs software.

Recently, many large companies are investing in IoT initiatives, as well as exploring opportunities at the junction of the blockchain and the Internet of things. It is believed that interconnected devices should be able to make micropayments. In this context, the Lightning Network may associate IoT networks with Bitcoin.

However, according to Nayuta representatives, no one yet knows which application at the junction of technologies will become the killer app. In Nayuta, they also presented a Lightning-shield – a node based on the Raspberry Pi Zero computer, on which an experimental client is installed in the form of an SPV-wallet.

Recall last spring, the Japanese electricity supplier Chubu Electric Power Co, within its own IoT-concept, entered into a partnership with Nayuta to introduce Lightning-payments as a way to pay for charging cars.

Earlier, the British automaker Jaguar Land Rover began testing smart contracts based on the IOTA network. The smart wallet built into the Jaguar F-PACE and Range Rover Velar models will accept tokens for providing information on road congestion and road surface condition, as well as for participating in a ridesharing program.

In Russia, the creation of a federal IoT operator will be undertaken by the company Glonass-TM, which is 75% owned by Rostec, Igor Rotenberg and partners. Capital costs for the project have already been estimated at 53 billion rubles.

“Petrel”: a new implementation of the Lightning Network for Bitcoin

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