Tag: Lightning Network

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Crypto Markets

Lightning Network Makes Bitcoin (BTC) Payments Faster And Cheaper – Here Are 4 Platforms That Support It

iDue to the increase in transactions and the congestion of the Bitcoin (BTC) network, Lightning Network was developed, a technology that allows you to use BTC as a cryptocurrency payment method instantly and at lower fees. Here you can see the best 4 platforms that have integrated this technology – OpenNode, GloBee, BTCPay, and CoinGate.

OpenNode

The Open Node cryptocurrency payments processor allows payments to be made with the Lightning network. This platform, launched last May, announced that its system “is designed for companies of all sizes and shapes.”

All out tools and features are built around the idea that using Bitcoin (BTC) should be easy and empowering for both merchants and customers alike.

Open Node

Masen.io Lightning Network platform

This platform is developed by Masen.io, a company dedicated to Bitcoin (BTC) technology and ecosystem, based in Los Angeles, USA.

Via its website, Masen.io points out that its work aims to “close the gap between BTC and the general public through the development of applications that focus on people and their daily lives.”

GloBee

Another platform that allows payments through Lightning Network is GloBee, a global provider of cryptocurrency payments that enables you to accept or send payments in Bitcoin (BTC), Litecoin (LTC), or Ethereum (ETH), among others.

Also, GloBee payments platform can be integrated into websites through WooCommerce, Magenta, OpenCart, and other services, which extends the reach of Lighting Network and can increase cryptocurrency adoption.

BTCPay

BTCpay, an alternative open source project to BitPay, also enabled the option to make payments with Lightning Network last March, as well as CoinGate, which stated that “this technology will eventually make Bitcoin (BTC) faster, lighter and more efficient.”

Lightning Network is a network that operates outside of Bitcoin (BTC) main blockchain and processes transactions through payment channels created between its nodes. As a result, transactions are made immediately and with minimal fees, opening up the possibility that BTC can be adopted as a payment method on a global scale.

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Crypto Games News

Poketoshi Allows The Bitcoin Community To Play Pokemon Using The Lightning Network

Want to play Pokemon with the Bitcoin community? Then, you should know that the Portuguese developer Joao Almeida created Poketoshi, an application for the Lightning Network micro-payment protocol that combines one of the versions of the Pokemon game with Bitcoin (BTC) payments protocol.

For its design, Almeida used OpenNode which is a service specialized in digital payment settlement for merchants using Lightning Network micro-payment protocol.

The developer shared some of the statistics generated by this application which in its first 24 hours online received 61,916 satoshis, through a total of 635 transactions.

Poketoshi allows the Bitcoin community to play Pokemon using the Lightning Network micro-payments protocol

This application is a kind of tribute to Twitch Plays Pokemon, a “social experiment” devised in 2014 by an Australian programmer who remained anonymous. Using the Twitch video game streaming platform, the idea was to allow users to play Pokemon indirectly.

The game was very successful and even holds the Guinness World Record for having “the highest number of participants in a single player online video game” with 1,165,140 users.

Poketoshi uses the same principle, but every move in the game must be paid for using the Lightning Network micro-payments protocol. The goal is to monetize the game so that the streaming service can pay for itself while allowing the Bitcoin community to use the micro-payment network directly.

100 satoshis for every move

The game’s interface has a Super Nintendo controller, through which players can make the game’s avatar moves, always by paying 100 satoshis, regardless of the button chosen.

The Portuguese developer said the original idea for the game was put forward by Nakamoto Institute President Michael Goldstein. The latter tweeted:

Lightning Network plays Pokemon. An experiment in social coordination using the skin of micropayment in the game. One satoshi per button,

Michael Goldstein, on Twitter

In short, Poketoshi allows Bitcoin community to play Pokemon using the Lightning Network micro-payments protocol.

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Crypto

Rawtx Lightning Network Bitcoin (BTC) Wallet Rolled Out For iOS

Rawtx released its Rawtx Lightning Network Bitcoin (BTC) wallet for iOS, on a test network. The wallet has been developed with LN Daemon, a software created by Lightning Labs that allows the use of the LN micro-payment network.

On May 9th the wallet development team announced its launch. It was then only available for Android devices. Today, the Rawtx Lightning Network Bitcoin (BTC) wallet is available on the App Store.

The application allows multiple wallets, and each wallet has two types of accounts, namely, a payment account and a savings account.

Rawtx opens and closes payment channels by transferring money from the savings account to the payments account, for the opening, and from the payments account to the savings account, to close the channel.

Lightning invoices can be paid by scanning QR codes, and Lightning receipts can also be generated and show incoming and outgoing money on the Lightning Network. It also provides information on the status of the LN network, such as the number of nodes, channels, and so forth.

With the release of the Rawtx Lightning Network Bitcoin (BTC) wallet on iOS, the project became open source

The team reported that they are working on bugs related to crashes and lost backgrounds, although, at the moment, the application only runs on a test network.

“Performance/bandwidth and storage utilization is our other priority,” the Rawtx team reported.

Since now, as the Rawtx Lightning Network Bitcoin (BTC) wallet is released on iOS, the development of the wallet will be open source.

To privilege privacy in the relationship between the wallet and the blockchain, the developers used Neutrino, a client of interaction with the Bitcoin (BTC) blockchain from Lightning Labs.

The developers have proposed a series of tasks to be done, where they have asked for the collaboration of those members of the community who have the necessary skills. Thus, integrating autopilot, API development, Litecoin (LTC) integration, improving the GUI for payments, and even performing translations into other languages are some of the elements that the team hopes to grow with the help of the crypto community.

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Crypto

Lightning Network For Bitcoin (BTC) Supported By The New iOS Crypto Wallet, CoinClip, And By Vaultoro Cryptocurrency Exchange

Lightning Network is a second layer solution for Bitcoin that allows users to make instant micropayments without having to resort to third parties. Today, a group of developers announced the release of the first Bitcoin (BTC) wallet for iOS, CoinClip, with the Lightning Network enabled.

CoinClip is a beta-phase Bitcoin (BTC) wallet for iOS that is now available on the Bitcoin testnet

CoinClip is the first Bitcoin (BTC) wallet available for iOS devices that runs Lightning Network. However, this is not the first mobile wallet for Bitcoin (BTC), as the Eclair wallet has launched its version for the Android operating system in the first week of April and users are still waiting for it to be enabled on iOS.

Although it is enabled on the Bitcoin testnet and there is no risk of loss of funds, for now, users on Reddit have reported that the CoinClip application takes some time to synchronize and complete the mapping of payment channels. To this, one of the developers responded that one of their main objectives for the next update will be to try to speed up the mapping.

The Twitter audience was enthusiastic about the initiative, although some Reddit users noted that the developers behind the app are low-profile, so caution should be needed once the application completes its testing phase.

The first cryptocurrency exchange to include Lightning Network was registered

The implementation of Lightning Network has been gradually increasing, although there is still a long way to go since, according to some specialists, the applications that would use the new payment channels are not ready to be used outside the testing phase.

However, a few days ago, the first cryptocurrency exchange to include Lightning Network was registered. Therefore, the Vaultoro cryptocurrency exchange is the first Bitcoin (BTC) exchange platform to implement the new micropayment protocol. To use it, users would only need an Eclair wallet and to open an account with Vaultoro.

Categories
Crypto

Bitcoin (BTC): Will BTC Reach $150,000 By 2019? Maybe Lightning Network Will Help

Bitcoin (BTC) is the most popular and valuable cryptocurrency in the market. Needless to say, BTC experienced the most significant growth in the past couple of years. But is Bitcoin (BTC) on its way towards $150,000 by 2019? Some cryptocurrencies market analysts believe that is indeed possible, especially in the perspective of the Lightning Network launch, set for this year.

Bitcoin (BTC) Price Forecasts

John McAfee is one of the most important personalities in the world of cryptocurrencies. He is among those who consider that BTC is undervalued right now and might worth as much as $1 million in the following years.

Jeet Singh, a senior analyst and fund manager, also said that Bitcoin (BTC) is quite likely to be trading at about $50,000 by the end of 2018. He is certain that Bitcoin’s volatility will decline as the cryptocurrencies market becomes more mature.

In an interview with Bloomberg, Jeet Singh stated:

If you look at Apple’s Microsoft when its shares were made public, they were very volatile because the market was not mature. There aren’t many vendors that can accept cryptocurrencies but there’s a lot of adoption on the black market.

One of the renowned Winklevoss twins, who own the Gemini cryptocurrency exchange, respectively, Cameron Winklevoss, commented that the market capitalization of BTC can easily plunge somewhere between $4 and $8 trillion. Moreover, the cryptocurrencies specialist claimed, just a couple of weeks ago, that Bitcoin (BTC) has the force to increase by about 35 times, in the next years.

So if we look at a market cap of $100 billion today, now last week it could have been over $200 billion, so it’s actually a buying opportunity, we think there’s a potential appreciation of 30-40 times (…) So we think that, regardless of the price movements in recent weeks, it is still a very undervalued asset.

Cameron Winklevoss

The Lightning Network will become operational in 2018

Also noteworthy is the fact that in the course of this year, the Lightning Network is scheduled to become operational.

Since that moment on, Bitcoin (BTC) will cut its transaction fees and processing times to near nil. This may be perhaps some of the most significant milestones in Bitcoin’s history. In case the Lightning Network turns out to be as good as its developers claim to be, the BTC issues with scalability would be solved out, therefore, Bitcoin (BTC) price will soar up considerably.

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