Blockstream Acquires Bitcoin Wallet, Lightning Network Not The Reason
Blockstream’s acquisition of GreenAddress, a Bitcoin wallet software provider based in Europe, has nothing to do with the Lightning Network, says Lawrence Nahum, CEO and founder of GreenAddress. Blockstream started developing the Lightning Network which is aimed at providing a scalable, instant Bitcoin/Blockchain transactions at a low cost. It is one of scalability ideas which has been proposed by the Bitcoin development community. Nahum reveals to CoinTelegraph that the acquisition is geared towards improving the wallet. He says: “Both teams from GreenAddress and Blockstream have strong....
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Bitcoin infrastructure architect Blockstream has acquired wallet provider GreenAddress in a move the startup says could impact the development of its signature, still in-development sidechains solution. Following the acquisition, GreenAddress Wallet's team of three developers will continue to work on privacy and security bolstering features for the wallet as well as compatibility for sidechains, a bitcoin infrastructure component that Blockstream has raised $76m in two investment rounds to engineer. In interview, former GreenAddress founder and CEO Lawrence Nahum, now senior architect at....
Blockstream successfully tests Lightning payment protocol on Bitcoin blockchain. The Bitcoin Lightning micropayments protocol has successfully passed the test. The protocol was tested recently by researchers from Blockstream, a company contributing towards the maintenance and development of Bitcoin Core protocol. People from across the world are increasingly using Bitcoin as a medium of value exchange and storage. This has led to a sharp rise in the number of transactions being processed by the Bitcoin blockchain on a daily basis. As the community continues to grow, the Bitcoin network....
The lightning vulnerability was made public on Oct 9. Lightning network node operators running LND versions prior to the Oct. 1 version 0.11 upgrade have been urged to upgrade immediately after a vulnerability was discovered affecting LND versions 0.10 and below.The vulnerability was made public in an Oct. 9 announcement from Lightning engineer Conner Fromknecht, head of cryptographic engineering at Lightning Labs. Fromknecht said:“While we have no reason to believe these vulnerabilities have been exploited in the wild, we strongly urge the community to upgrade to lnd 0.11.0 or above....
Is the scaling effort leading to Bitcoin’s privatization? NodeCounter.com accuses Blockstream of crippling Bitcoin for financial gain. Since Blockstream got involved in the scaling of Bitcoin, the issue of Bitcoin privatization has sprung up. Blockstream President Adam Back is of the view that a plan for scaling Bitcoin to handle more users over the next few years would double the on-chain transaction capacity on the network three years in a row, while simultaneously allowing for the development of layer-2 solutions, such as the Lightning Network, which could allow for millions or billions....
Progress on the bitcoin lightning network continues to advance. Following a promising trial of its routing network last week by French startup Acinq, Montreal-based Blockstream has announced that it has sent the first end-to-end transaction over the Lightning Network, a highly-anticipated top layer for the bitcoin network designed to boost transaction capacity. What the team called "Lightning's first strike" saw its developers send a transaction across a test version of the network successfully to another party, a process that included invoicing that party for bitcoin and routing....