The Lightning Network is helping BTC users save money and time. This game-changing technology once again gives BTC users the ability to conduct microtransactions for fractions of a cent. One particularly creative individual has set up a digital graffiti board to help illustrate this point.
That Lightning Network aficionado goes by the name of Lightning K0ala and he has created a large digital whiteboard to help people get familiar with the Lightning Network and its impressive capabilities. Users are able to showcase their drawings, advertisements, phone number, or any other image they are able to draw.
How it Works
The board is composed of one million pixels. Each pixel cost one Satoshi. A Satoshi is the smallest measurement of BTC. To put this in perspective, 100 Million Satoshis equals just 1 BTC. You can basically draw your until your heart's content and it is highly unlikely that your tab will be significant. In theory, you could paint the entire canvas for under $75.
In an interview with thenextweb Lightning K0ala explains that he developed the LApp with the intentions of further exploring the micro-transactions conducted on the Lightning Network. Already the board has seen significant use with the art ranging from strait advertisements, all the way to Satoshi riding a fire-breathing shlong.
Let’s get Drawing
Upon arriving at Satoshi's Place, you are greeted with a heartfelt welcome that explains the developer’s intentions. In addition, the welcome message invites other programmers to further the project with the API being directly available for download. There is also a link to the boards growing Telegram channel. Here you can discuss your favorite art and even make suggestions for those looking to tag the board in the near future.
Smart Concept – Great Job
You have to hand it to Lightning K0ala. He managed to create a very simplistic but elegant way in which to showcase the full capabilities of microtransactions on the LN. It will be interesting to see how the project develops in the future.
Second layer protocols are nothing new in the cryptospace and many coins already utilize some form of off-chain protocol to accomplish their goals. Once the LN is fully implemented, BTC will also gain additional functionality such as the ability to utilize smart contracts.
How the Lightning Network Works
The Lightning Network functions through the use of off-chain personal payment channels. Users are able to conduct unlimited transactions in these portals without bogging down the BTC blockchain. Once the payment channel is closed, the transactions are then applied to the blockchain. This reduces the amount of congestion significantly and allows users to circumvent the current high fees charged for on chain BTC transactions.
The Future of BTC is Lightning
It is often said that it is the developers which determine the success of a project in the cryptospace and if the Lightning Network can continue to grow its team with the likes of savvy minded individuals such as Lightning K0ala, then the future of this protocol will be as bright as lightning.