Author: ZmnSCPxj 2018-02-25 23:27:14
Published on: 2018-02-25T23:27:14+00:00
ZmnSCPxj, a contributor to the Lightning Network, shared guidance on how to use Bitcoin via the Lightning Network to pay for pizza. This involves creating a direct channel with the pizza provider and transferring the pizza price plus 546 satoshi to them. The pizza provider must then deliver the pizza within three blocks or it's free. Once delivered, the customer provides the preimage to the pizza provider via the LN protocol, confirming the transaction and releasing the pizza to the customer.The payment was made through an invoice system where the payer received the preimage in return for paying the invoice. To get the preimage, the c-lightning platform was used. While this method is considered impractical and insecure, the "three blocks or it is free" offer makes it an option for more practical payment algorithms. Although using the Lightning Network for small payments like this may not be practical yet, it offers an opportunity for experimentation and learning about the technology.In an email exchange on the Lightning-dev mailing list, a user named Laszlo shared a link to a website called "lightning pizza." The link leads to a page that explains how Laszlo used the Lightning Network to purchase two pizzas from Papa John's, marking the first time the Lightning Network was used to make a real-world purchase. The Lightning Network allows for faster and cheaper transactions by creating payment channels between users. These channels allow for multiple transactions to occur without needing to be recorded on the blockchain. Instead, the channel balance is updated and then the final transaction can be settled on the blockchain.Laszlo's use of the Lightning Network to buy pizza showcases the potential benefits of this technology for everyday transactions. However, further development and adoption of the Lightning Network and other scaling solutions are needed for Bitcoin to become a more practical form of currency. Images of the family enjoying the pizza can be found at the link provided.
Updated on: 2023-05-24T21:16:39.086455+00:00