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Average Ratings 0 Ratings

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features
design
support

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Write a Review

Description

The Bitcoin Lightning Network enables immediate payments, providing rapid blockchain transactions without the delays typically associated with block confirmations. It enhances security through the use of smart contracts on the blockchain, eliminating the need for separate on-chain transactions for each payment. Users can experience transaction speeds ranging from milliseconds to mere seconds. This network boasts remarkable scalability, capable of handling millions to billions of transactions every second, far surpassing traditional payment systems in terms of capacity. Additionally, it allows payments to be linked to specific actions or clicks without the need for intermediaries. Cost efficiency is another benefit, as settling transactions off-chain results in substantially lower fees, paving the way for innovative applications like instant micropayments. Furthermore, the Lightning Network supports cross-chain atomic swaps that can be executed instantly and off-chain, provided the involved blockchains utilize the same cryptographic hash function. This interoperability between different blockchain systems opens up new possibilities for seamless financial interactions.

Description

Truebit serves as an enhancement to blockchain technology, allowing smart contracts to execute intricate computations in conventional programming languages while minimizing gas expenses. Although smart contracts excel at handling minor computations with accuracy, they face significant security vulnerabilities when tasked with larger computations. To address this issue, Truebit introduces a trustless oracle that retrofits existing systems, ensuring the accurate execution of complex tasks. Smart contracts can submit their computation requests to this oracle in the format of WebAssembly bytecode, and in return, anonymous miners earn rewards for providing correct solutions. The protocol of the oracle upholds accuracy through two distinct layers: a unanimous consensus layer that permits anyone to challenge incorrect answers and an on-chain system that motivates engagement and guarantees equitable compensation for participants. The realization of these elements is achieved through an innovative blend of off-chain infrastructure and on-chain smart contracts, thereby enhancing the overall functionality and security of blockchain networks. This dual approach not only improves computational reliability but also fosters a more robust ecosystem for decentralized applications.

API Access

Has API No 

API Access

Has API No 

Screenshots View All

Screenshots View All

Integrations

1ML Yes 
Alchemy Pay Yes 
Bitaroo Yes 
Bottlepay Yes 
Build on Bitcoin (BOB) Yes 
Damus Yes 
Electrum Yes 
Elysium Yes 
Ethereum No 
Exodus Yes 
Fountain Yes 
LNPay Yes 
Leather Yes 
Mutiny Wallet Yes 
Neutronpay Yes 
NiceHash Yes 
Simple Bitcoin Wallet (SBW) Yes 
SimpleFX Yes 
Tippin Yes 

Integrations

1ML No 
Alchemy Pay No 
Bitaroo No 
Bottlepay No 
Build on Bitcoin (BOB) No 
Damus No 
Electrum No 
Elysium No 
Ethereum Yes 
Exodus No 
Fountain No 
LNPay No 
Leather No 
Mutiny Wallet No 
Neutronpay No 
NiceHash No 
Simple Bitcoin Wallet (SBW) No 
SimpleFX No 
Tippin No 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours No 
Live Rep (24/7) No 
Online Support No 

Customer Support

Business Hours No 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Vendor Details

Company Name

Lightning Network

Founded

2015

Website

lightning.network/

Vendor Details

Company Name

Truebit

Founded

2017

Website

truebit.io

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