Dollars on the Lightning Network: a boon for emerging markets?
An innovation on the Bitcoin Lightning Network (LN) could shelter users from the price volatility of BTC by providing access to dollars. Dollars at the click of a button on the Lightning Network could soon become a reality. An innovation from Galoy, the provider of open source core banking platforms such as Bitcoin (BTC) Beach wallet, could provide safe haven from the volatility of BTC.The innovation, called Stablesats, uses derivatives contracts to create a Bitcoin-backed synthetic dollar pegged to USD. The founder of Galoy, Nicolas Burtey, told Cointelegraph in an ‘explain like I’m five’....
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Lightning Labs is building the ability to use stablecoins on the Lightning Network using the new Taro protocol due to demand in emerging markets.
The topography that is emerging on the Lightning Network seems to be mimicking many things we find in nature.
The Lightning Network is one of the most bullish developments that the Bitcoin ecosystem has seen so far. And all the available metrics point up, a healthy and vibrant network is brewing. However, investor Kevin Rooke took a deeper look and found out that the Lightning Network is probably even bigger than previously thought. “Inaccurate comparisons and privacy preserving features make it hard to truly understand how big the Lightning Network is.” Related Reading | Bitcoin Lightning Network Reaches Record Capacity What does Rooke mean by that? Let’s find out. The Lightning Network By....
In addition to its new bitcoin-backed U.S. dollar balance on Lightning, Galoy also announced a $4 million raise.
Cash App mentions that the Lightning Network feature is not available to users located in New York. Mobile payment service Cash App revealed that Lightning Network can now be used to transfer Bitcoin (BTC) through its app. With the new feature, its users can send their BTC to any Lightning or on-chain BTC address.Lightning Network is now available on Cash App. It's the fastest, free way to pay anyone in bitcoin. Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6— Cash App (@CashApp) February 7,....