European crypto exchange Bitstamp has set up its own Lightning Network (LN) node to boost the network capabilities. It was launched with aim to promote the growth of the network, as well as encourage the crypto industry to adopt the technology. As more nodes generate payment channels, the total network liquidity increases, which in turn increases the transaction capabilities on the network, Bitstamp explained.
At a conference in Odessa, Ukraine, Thomas Voegtlin founder of Electrum (a bitcoin wallet) has revealed that they will soon support for the Lightning Network (LN). It will one of the major Bitcoin wallet to introduce LN, and also planning to simultaneously implement ‘off-chain’ scaling mechanism which allows users to send each other bitcoin almost instantaneously, paying hardly any transaction fee.
Bluewallet has unveiled its newly developed app which now allows users to receive bitcoin lightning payments by simple QR scan. Nuno Coelho, user experience engineer said, “We were not happy with the current status of the wallet market, in particular, the wallet we were using at the time. So we decided to team up on this effort and build the solution we wanted to have.”
Blockchain development organization Lightning Labs reported that it released the principal alpha adaptation of it’s Lightning Network (LN) customer for the primary bitcoin (BTC) arrange. In its released team note: “We’re working as quickly as we can to get our mainnet iOS and Android apps out soon. Scaling Bitcoin and Lightning to everyone means not requiring people to follow complex setup processes or hand over control of their funds to trusted counterparties.”
The Bitfury-backed crypto Wallet Lightning Peach which transfers cryptocurrency through the Lightning Network, has brought two modes for its non-custodial desktop and mobile versions namely an “extended” and “standard” mode. In Its official blog: “extended mode, payments without a user-generated Lightning invoice” can be made and set to streaming &/or recurring.”
One of the largest US retailer has announced that they are no longer accepting Visa credit cards due to excessive fees and reportedly eyeing on adopting Bitcoin’s Lightning Network instead for payment processing. The CFO of Kroger, Mike Schlotman then commented, “Visa has been misusing its position and charging retailers excessive fees for a long time.”
Now if you catch a taxi in London you can pay through crypto. FastBitcoin have become the payment service for the entire process which allows Jenkins to spend his Bitcoin asset. Jenkin has added that he is willing to educate the Londoners about Bitcoin so they could also have payment alternative method for public transportation.
A new online gaming platform developed on Bitcoin’s Lighting Network, by Koala Studio has been launched this week. Koala Studio team then explained, “We believe that the Bitcoin Lightning Network drastically reduces barriers of entry for gamers and game developers looking for a permissionless payment network that supports instant, low-cost micro-transactions,”
CEO of micro blogging social media giant Twitter, Jack Dorsey has confirmed his participation in the Lightning Network’s Torch initiative. It is a initiative started by community member for relay transaction. Jack entered into the system with a style by sending a invoice to a regular commentator through Lighting. Lightning Torch aims to produce better awareness of the benefits for Bitcoin users.
A set of tools aims to accelerate the adoption of Bitcoin’s Lightning Network called Peach product suite has been launched a blockchain technology company, Bitfury Group. It’s CEO then said,“By providing these products to the market, Bitfury is encouraging the worldwide adoption of this technology and providing unparalleled support to consumers and merchants.”