Zigzag: Quick update on mainnet release

Andrey Samokhvalov
Sep 19, 2018 · 2 min read

We’re roughly 1 week online, and so far zigzag.io has been viewed 869 times, 5% of these views were converted to 44 successful exchanges with an average $5 exchange, well, 9 of these were processed manually, because we’re fixing bugs along the way thanks for everybody who had the courage to try our service!

You may find lightning payments statistics on main page, but we plan to add more online info about these exchanges soon.

For me personally I thought that Lightning Network was at a much less mature state. By the way, if you’re an application developer and interested in the state of Lightning Network don’t hesitate to put your statistic here, so that everybody may benefit from it.

We have received several feature requests, implemented a couple of them, and would like to explain these further:

Reverse exchange (implemented)

We have received several feature requests to add {Ethereum, Bitcoin, Litecoin, Dash, Bitcoin Cash} to Lightning Network Bitcoin exchange. We have implemented the first and easy version of that which means that we exchange funds and will try to send Lightning Network payment, but if it fails because of inefficient capacity you will have to contact us and we will manually fix this issue.

The second version of that would be creation of channels to people if payment has failed, but this would require the user either to broadcast its public address, so that we may connect and create channel, or user connecting to our node. Which means changing the UI and making it more clear for end user what he/she needs to do to actually receive money.

Exchange from Lightning Network Bitcoin to Bitcoin (implemented)

So far there is no splice-in / splice-off mechanisms in Lightning Network, yet we see application developers asking for this type of exchange to enable the rebalancing of their channel. We have implemented this as well.

Adding new assets (not implemented)

We understand that people want to exchange from Bitcoin to Ethereum and vice versa, but that is not our focus, Zigzag will be focused solely on Lightning Network, making it more liquid and easier to enter / exit.

Increase exchange amount (not implemented)

This is a tricky question as Lightning Network is still in beta, we’re also still in beta, we also need to clarify legal part of our service, so for now we’re keeping limits low. We believe the amounts are more than sufficient to help adoption of Lightning Network at this stage.

Try our zigzag.io, but have in mind that we are on beta, and also support us on Twitter and Medium!


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