Bitcoin’s Scaling Solution Attempts Reboot After Losing Traction

When Bitcoin development company Lightning Labs first launched the Lightning Network in 2018, it was all the rage. The protocol, built on top of the Bitcoin blockchain, was designed to make cryptocurrency transactions faster and cheaper.

At the time, Lightning Labs had raised $2.5 million of seed financing from investors including Twitter’s Jack Dorsey and PayPal’s David Sacks, who dubbed it “the most important protocol being built on Bitcoin.”

But soon after launching, murmurs of failed transactions on the Lightning Network began popping up on X, and suddenly, the next big thing for Bitcoin seemed anything but. Users …