A single transaction today has created more Wrapped Bitcoin on the Ethereum network, than the total amount of BTC locked in the Lightning Network.
Lightning Network News
The Lightning Network is a payment protocol that works as a second layer on top of a blockchain. A large number of those in the cryptocurrency community suggested Lightning Network as a fix to Bitcoin’s scaling problem.
The Lightning Network opens a payment channel by setting up a multisignature wallet that holds some amount of cryptocurrency, and then a savings wallet address in the blockchain. Having a payment channel, parties can make an unlimited amount of transactions that are not made public in the blockchain. After all planned transactions are completed, the resulting balance is saved in the blockchain and parties can recover their share of the wallet. You can also use other payment channels or multiple channels to reach your partner, with the network finding the shortest way. Lightning is not as secure as the blockchain itself, but it may be widely adopted for small transactions, and it will reduce the strain on the blockchain, making it more scalable.
On Sunday, Lightning Labs CEO Elizabeth Stark explained why exchanges have been hesistant to integrate Bitcoin’s Lightning Network.10578
If Bitcoin does not hit $250,000 by early 2023, Tim Draper jokingly says he’ll eat a raw egg.25301
The total fees paid for on-chain Bitcoin transactions over the last 24 hours increased by over 50% today.4970
Vietnamese online ticketing agency Future.Travel now accepts Bitcoin payments via the Lightning Network, with funds being converted into local currency at the time of sale.3781
The Lightning-compatible Fold app has joined Visa’s Fintech Fast Track Program to roll out a co-branded Bitcoin cashback rewards card.7219
Blockchain firm Lightning Labs drafted a new Lightning Network-based authentication system that could replace traditional email-based accounts.2249
Self-styled Satoshi Nakamoto Craig Wright claims 2020 is the year the law comes for Bitcoin, which could spell trouble for Bitcoin miners and the Lightning Network.33508
NULS releases ‘blueprint’ for Nerve Network, a cross-chain protocol, whose mysterious mastermind until now was only known as “Berzeck”.3349
Most research grants for crypto firms are coming from independent companies and organizations with massive financial backings.3768
Recent studies have shown the Lightning Network is struggling, but are these teething problems or longer-term issues?2903
The Lightning Network was found to be more centralized than initially believed, increasingly relying on hubs through a core-periphery model observed by researchers.2889
Industry experts tell Cointelegraph about the latest cryptography innovations and how they will influence the future of cryptocurrencies.11252
Fighting for human rights and equality for a better future for humanity: From academia to crypto and the tech that stands behind it.2512
Twitter and Square make major gains following revenue reports, while Jack Dorsey-sponsored Lightning Labs sees $10 million funding.6594