DeFi’s growth has been propelled by the increasing popularity of yield farming and Bitcoin tokenization protocols, according to ConsenSys.
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.
The Strike app hopes to encourage mass adoption of Bitcoin and the Lightning Network by connecting it directly to a bank account or debit card.10740
The Lightning Network is susceptible to attacks that could drain Bitcoin wallets by flooding the blockchain.8733
It’s no secret that cryptocurrency has a scaling issue, so we look at various ways either proof-of-work or proof-of-stake could be effective.5000
A single transaction today has created more Wrapped Bitcoin on the Ethereum network, than the total amount of BTC locked in the Lightning Network.24965
On Sunday, Lightning Labs CEO Elizabeth Stark explained why exchanges have been hesistant to integrate Bitcoin’s Lightning Network.11362
If Bitcoin does not hit $250,000 by early 2023, Tim Draper jokingly says he’ll eat a raw egg.26787
The total fees paid for on-chain Bitcoin transactions over the last 24 hours increased by over 50% today.5169
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.3902
The Lightning-compatible Fold app has joined Visa’s Fintech Fast Track Program to roll out a co-branded Bitcoin cashback rewards card.7709
Blockchain firm Lightning Labs drafted a new Lightning Network-based authentication system that could replace traditional email-based accounts.2658
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.33883
NULS releases ‘blueprint’ for Nerve Network, a cross-chain protocol, whose mysterious mastermind until now was only known as “Berzeck”.3571
Most research grants for crypto firms are coming from independent companies and organizations with massive financial backings.4000
Recent studies have shown the Lightning Network is struggling, but are these teething problems or longer-term issues?3373