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 […]
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Why didn’t we thought of measuring Chivo and Bitcoin adoption this way? Cero anecdotal evidence. Only facts, numbers, and reports from wherever we can get them. What do we know about the Chivo wallet’s Lightning node? What apps besides the government wallet are the Salvadorans using? Are they happy with them? Investor and blogger Kevin Rooke has a fresh take on El Salvador’s Bitcoin adoption and we’re here to summarize it. “I wanted a deeper understanding of how real people in El Salvador are interacting with Bitcoin, so I went off in search of other success metrics.” Related Reading....
River’s Lightning service is the backbone for Chivo Wallet in El Salvador and removes the need for developers to have their own Lightning infrastructure.
Seeking a permanent solution for over 4 million BTC users, the government of El Salvador focuses on Chivo wallet’s stability and uptime, scalability and social impact. El Salvador, the first country to adopt Bitcoin (BTC) as a legal tender, has relaunched its in-house Chivo wallet to address the existing challenges of BTC transfers locally. With AlphaPoint integration, the updated Chivo wallet is expected to carry out instantaneous low-fee Bitcoin transactions while fixing concerns related to stability and scalability.Within the first month of establishing BTC as a legal tender, President....
River Financial research analyst Sam Wouters shares about his report which details unique insights from the company’s Lightning node.
Leaders in the Lightning Network discuss Chivo wallet, miner extractable value, replace-by-fee and more.