NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Blockchain Announces Network to Tackle Slow Bitcoin Transactions

Gautham
Gautham
4 years ago
2 mins read
Thunder Network

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Blockchain, the Bitcoin wallet company has announced the alpha release of its latest Thunder Network, a payment channel technology designed to accelerate bitcoin transactions over the blockchain.

Call it Bitcoin blockchain on steroids, the Thunder Network was introduced earlier amid the block size debate over Bitcoin’s scalability. Thanks to 1 MB limit on bitcoin blocks, the Bitcoin network has been unable to handle the ever increasing number of digital currency transactions. With the network failing to adapt to the growth in bitcoin usage, it failed to process/confirm transactions as and when it happened. This led to a huge backlog where the transactions which usually took a couple of minutes to receive confirmation started taking hours. Increasing backlogs created an increased demand for priority confirmation among users, which in turn led to an increase in miner fees. Increased miner fee for transactions has made the concept of microtransactions with bitcoin redundant. Lightning Network, on the other hand, is introduced as a solution for these issues.

Thunder Network is Blockchain’s adoption of the Lightning Network for off-chain transactions. It uses smart contracts to offer trustless peer to peer transaction capabilities over a high-speed network. Blockchain’s announcement about the launch of its Thunder Network makes it the first company to implement a usable Lightning Network in its product.

According to the company, the Thunder Network developed by Mats Jerratsch allows people to make live, instant and ultra-cheap transactions which will be settled back on the main Bitcoin blockchain. Even though the Thunder Network uses an overlying protocol on the Bitcoin blockchain, it is perfectly capable of offering increased user privacy while handling large amounts of transactions at the same time.

Blockchain, in its blog post, clarifies that the Thunder Network is an alpha product and it is expected to stay that way for a while as it can’t be implemented on the Bitcoin blockchain on a protocol level until bot CSV and SegWit are included to it. This release should be used only by developers and those who want to experiment with it by using it within a trusted friends circle.

Thunder Network is found to outdo Visa when it comes to its capability of handling transactions. Blockchain has found it capable of handling more than 100000 transactions per second. At the same time, with the transactions happening off-chain, the transaction fee will be much lower compared to the miner fee charged on each on-chain transaction.

The AES-CTR encryption and authentication protocols combined with multiple node encrypted routing ensures the security and privacy of all transactions over the network. All these features include the irrevocability of payments makes Thunder Network better than the vanilla Bitcoin blockchain when it comes to peer to peer bitcoin transactions.

The day is not far off when Lightning Network based payment system gets widely implemented across the Bitcoin network. But Blockchain’s move to announce its Thunder Network will give it a first-mover edge over other similar networks that are yet to follow.

Ref: Blockchain Image: NewsBTC
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Litecoin

Litecoin Price Compresses In Tight Falling Wedge, Breakout Ahead?

In his latest update, CryptoWzrd observed that Litecoin closed the day on a bearish note, moving in line with Bitcoin’s...

Godspower Owie 8 hours ago
Bitcoin

Bitcoin Network Activity Hits New 2025 Peak — What This Means For Price

The price of Bitcoin has had a mixed performance over the past week, falling beneath the $115,000 mark at the...

Opeyemi Sule 9 hours ago
Bitcoin

Total Illiquid Bitcoin Has Reached 72% Of Supply, What Does This Mean For Price?

The total illiquid Bitcoin has reached a new high, providing a bullish outlook for the flagship crypto. This refers to...

Scott Matherson 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Tests Weekly Open As $113,300 Fair Value Gap Looms — What It Means

Semilore Faleti 3 hours ago
Chainlink

Chainlink Bulls Eye $30 Target But Must First Overcome Crucial Resistance

Semilore Faleti 6 hours ago
Shiba Inu

Shiba Inu Joins The Ranks Of Dogecoin, XRP On Coinbase ETF Watchlist – The Next Big Thing?

Scott Matherson 7 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    17 hours ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    18 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    18 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    19 hours ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    19 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.