SAI.TECH Global Corporation a global energy-saving Bitcoin mining operator and a clean-tech company that integrates Bitcoin mining, heating, and power industries, announced that it has recently launched SAIHUB APP 1.1, which supports Bitcoin Lightning Network.
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SAIHUB APP 1.1
SAIHUB APP 1.1 has been officially released this month with the new function of Lightning Network support. By using SAIHUB APP 1.1, users now can not only top up the wallet on the chain, but also make or receive instant payments off chain based on the second layer added to the Bitcoin Blockchain. Lightning Network supports the smallest transaction to 1 Cong (SAT) or even 0 Cong (SAT), which meets the great needs of users’ actual transaction scenario.
“In future, SAIHUB App will continue exploring more functions based on the Lightning Network ecology to fulfill a variety of users’ needs, such as instant messaging, Lightning Network lucky money, Blog based on the Lightning Network etc,” said SAI.TECH’s founder and CEO Arthur Lee, “We believe that in the foreseeable future, SAIHUB APP will promise richer user experience by building a more open and functional ecology, while improving the efficiency from information transfer to value transfer.”
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In February 2015, Bitcoin developers Joseph Poon and Thaddeus Dryja published an article titled “Bitcoin Lightning Network: Scalable Off-chain Instant Payment”, brought the Lightning Network with the concept of “scalable off-chain payment” to the public.
The Bitcoin network is designed to be decentralized and secure by recording ledgers on every Bitcoin node. It would require half of the whole hash rate network to manipulate the transaction record, which is almost impossible to achieve. However, this popularity also comes along with the shortcoming—the amount of transactions that Bitcoin network can process per second is limited by the speed of generating each block and the size of each block, which clearly could not meet the increasing transaction demand resulting from fast growing Bitcoin owners and users. To solve this problem, developers created layers on top of the main network, where the first layer was the primary blockchain.
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