Cash App and Chivo help drive Lightning payment volume up 400%

Cash App and Chivo help drive Lightning payment volume up 400%

Bitcoin’s layer 2 scaling solution, the Lightning Network, has seen payment volume increase by over 400% as real adoption grows. A new report highlights how the Lightning Network has grown in popularity as a way of transferring digital assets quickly and efficiently around the globe. CNBC today told the story of Alena Vorobiova, a Ukrainian refugee currently seeking sanctuary in Poland. Vorobiova used Lightning to transfer $100 worth of Bitcoin from Miami, where it was then withdrawn from an ATM in the equivalent Polish currency — all within the space of three minutes. That’s the sort of....


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El Salvador’s Chivo And Bitcoin Adoption In Mindblowing Facts And Stats

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River Financial Is Powering The Chivo Wallet’s Lightning Transactions. Why?

Wait a minute, is River Financial involved in El Salvador’s bitcoin story? Since when? Apparently, the highly respected financial institution is now processing the Chivo Wallet’s Lightning transactions. Which seems like a step in the right direction, but also comes with seemingly unnecessary counterparty risk. Why isn’t El Salvador handling the operation internally? And, will […]

El Salvador Disables Bitcoin Price On Chivo App To Stop Scalpers

Bitcoin traders have found a way to use the recently launch Chivo App, the countries own BTC wallet, by El Salvador’s government to make a profit. As part of their BTC Law, this app operates with the second layer payment solution lightning network. Related Reading | Bitcoin Price Smashes Record For Highest Weekly Candle Close Ever Via its official Twitter handle Chivo Wallet announced that Salvadorans will be unable to track the price of BTC on the app. According to the report presented by the team behind the app, some users have been using it to do “scalping”. A type of short-term....