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Tag: Lightning Network

Coinfinity completes World’s First Lightning Network transaction on Bitcoin ATM

Category: Bitcoin, News, Tech

Coinfinity completes World’s First Lightning Network transaction on Bitcoin ATM

Coinfinity, an Austria based cryptocurrency startup, has accomplished the first ever bitcoin transaction via the Lightning Network (LN) through a Bitcoin ATM. The historic off-chain bitcoin transaction was completed at the Cofinity office marking a historic achievement. The Coinfinity blog stated “To establish a connection to the lightning network, a payment channel was funded through this transaction. For this early…

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Into the Trenches with Lightning Power as Schools Compete to Scale Bitcoin

Category: Bitcoin, Blockchain, News

Into the Trenches with Lightning Power as Schools Compete to Scale Bitcoin

Many observers view the Lightning Network as the best solution to Bitcoin’s scaling needs, with some developers running the app in real-time and some vendors already accepting Lightning Network payments; a group of universities will compete to test the waters and evaluate the benefits and costs of the protocol. Lightning Labs CEO Elizabeth Stark has recently admitted that there are…

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Founder of Ethereum Vitalik Buterin Turns Focus Away from VC Firm and Towards the Future of Crypto

Category: Bitcoin, Commentary, Ethereum, Finance, News, Tech

Founder of Ethereum Vitalik Buterin Turns Focus Away from VC Firm and Towards the Future of Crypto

As of late, Vitalik Buterin has been focusing his attention on a venture capital fund that is based in China called Fenbushi Capital. However, with large-scale turmoil in the world of crypto recently, he has decided to leave his role in this VC firm and turn his attention back towards the future of the sector. Curbing Hype There have been…

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Bitcoin Cash Transaction Volume Catching Up to Bitcoin

Category: Bitcoin, Business, News

Bitcoin Cash Transaction Volume Catching Up to Bitcoin

It’s barely five months since Roger Ver’s Bitcoin Cash broke away from the Bitcoin core network following communal disagreements. Since then, Bitcoin Cash (BCH) is gradually becoming a force to reckon with in the crypto ecosystem and is now processing nearly half of Bitcoin’s transaction volume. Measuring Volume As seen on Bitinforcharts Bitcoin processed a total of 234,000 transactions while…

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TorGuard accepts Lightning Network Bitcoin Payments

Category: Bitcoin, Blockchain, Business, News

TorGuard accepts Lightning Network Bitcoin Payments

TorGuard, an anonymous VPN and proxy service provider, publicized its acceptance of mainnet Lightning Network bitcoin payments. TorGuard is one of the first public businesses to initiate Lightning Network payments and affirms to reduce settlement fees to almost zero. TorGuard tweeted “TorGuard now accepts mainnet Lightning Network BTC payments. Ask support for details!” The Lightning Network (LN) is a decentralized…

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Bitcoin, Lightning, Channel Factories: Will It Really Work?

Category: Bitcoin, Blockchain, Commentary, News

Bitcoin, Lightning, Channel Factories: Will It Really Work?

Channel factories are an optimization feature for the Lightning Network, a popular scaling solution for Bitcoin which is currently still in beta with no exact launch date but is expected to be rolled out in 2018. The Lightning Network could allow Bitcoin to scale to 500 million users by using the blockchain’s built-in scripting language to create off-chain payment channels…

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The Lightning Network May Save Bitcoin

Category: Bitcoin, Blockchain, Commentary, News, Regulation

The Lightning Network May Save Bitcoin

Bitcoin rose to fame as the first of its kind, the pioneering cryptocurrency that paved the way for others to come. Since then, however, the rest have more than caught up. There are currently several cryptocurrencies that are faster, cheaper and more private, and the world is responding by moving their money to these more efficient networks. The Trouble with…

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On the Shoulder of Giants: Lightning Network Protocol 1.0

Category: Bitcoin, Blockchain, News

On the Shoulder of Giants: Lightning Network Protocol 1.0

“If I have seen further it is by standing on ye shoulders of Giants.”— Isaac Newton, 1675 On December 6, 2017, Lightning Developers, a medium.com publisher representing the three main parties (ACINQ, Blockstream, and Lightning Labs) that together are building the Lightning Network protocol, announced that Lightning Protocol 1.0 is operational. All tests were passed, and the first multi-client Lightning…

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The State vs. Free-market Crypto-vigilantes

Category: Bitcoin, Commentary, News, Regulation

The State vs. Free-market Crypto-vigilantes

Throughout the evolution of cryptocurrencies, there have already been many winners and losers; and there are sure to be many more, as thousands of layer-two protocols, digital currencies, exchanges, marketplaces, and ICOs all compete for their place in the volatile crypto-space. But perhaps it’s the largest and most powerful Government States that stand to lose the most at the hands…

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A Layer Inbetween to Fund Lightning’s Channels

Category: Bitcoin, Blockchain, News

A Layer Inbetween to Fund Lightning’s Channels

The Lightning Network and other variants of payment channel networks are said to be the future of scaling Bitcoin. A newly published paper by Christian Decker, Conrad Burchert, and Roger Wattenhofer introduces another layer between the blockchain and payment channels, which has the potential to overcome the last limits of scaling. It is possible that Bitcoin will be able to…

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