Lightning Network users can look forward to more channel capacity in the future thanks to the creative mind of Software engineer Tobi Ojuolape. He introduced the concept of Atomic multipath technology which enables the Lightning Network to send larger volume payments securely.
One of the biggest issues that have held back Lighting Network adoption is the channel funding requirements. As it stands now, you need to find a channel that has as much funding as you want to send. For larger transactions, this has proven to be a problem. The Atomic Multipath will make it so that you don’t have to search for a single channel to conduct large transactions.
Atomic Multipath Solves a Major Problem with the Lightning Network
Atomic multipath payments (AMP) enable you to send large transactions over multiple channels safely. The system has built-in protections that ensure that the entire transaction completes or none of the funds get transferred. This method of sending larger payments over the Lightning Network could enable the system to find more use case scenarios in the business sector.
Lightning Network Volume Expands
The Lightning Network is still in its BETA testing stages and this has made developers caution against sending large amounts of funding over the network. Despite 3 years of development, the network is still undergoing upgrades and changes. The current limit is set to 14 Bitcoin but could expand to thousands of Bitcoin in the future using AMP tech.
Another major advantage of this approach is that the routing fees are cheaper. This maneuver keeps the protocol in line with the network’s goal to reduce Bitcoin transaction costs and congestion. It also represents another major milestone for the Lightning Network community.
All or Nothing
There are many protections put in place to prevent fraudsters. The normal malicious actions penalties are in place. Additionally, the system prevents anyone from accessing any of the funds until all funds are sent. If for any reason part of the payment doesn’t go through, the entire AMP payment gets stopped before any funds officially leave your account. This structure protects the sender from any losses.
Notably, the latest lightning update, LND v0.13.0-bet, supports the use of AMPs which could help the protocol to find a home in more industrial uses. Already, the Lightning Network has found a dwelling in national economies such as El Salvador. The ability to send large payments with minimal Bitcoin transactions is a huge plus for those who have been paying high network fees for years. This latest development could entice more countries to venture into making Bitcoin legal tender.
It’s Time to Get AMP
The Lightning Network is ready to get AMPed about the new channel capacity. The network now has over 79,000 payment channels and has +150M in capacity. The new capacity could help push the capabilities of the system to new heights in the coming weeks. For now, users can AMP their payments to save on routing fees and more.
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