Are The Lightning Network ’s Almost-Free Transactions The Killer App BTC Needed?
Bitcoin is already a success story like no other. Will the Lightning Network ’s cheap transactions take the party to the next level? As our exploration of this new technology proceeds, we turn our heads to the ideas of Peter St Onge. Through his newsletter CryptoEconomy, he tells us about the Porcfest in New Hampshire. There, attendees transacted using the Lightning Network all through the festivities. Related Reading | How Big Is Bitcoin’s Lightning Network? The Answer Will Surprise You “It was on-the-ground confirmation of what the statistics are already saying: the Lightning....
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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,....
People who run Lightning Network nodes can charge fees to process transactions through their Lightning channels, thus earning small amounts of BTC. For instance, depending on network activity, a single Lightning node could route $10,000 worth of transactions per month and receive a 0.25 percent fee ...
Lightning networks are considered a promising innovation in the Bitcoin space, which would make the Bitcoin system much more scalable and able to process transactions at a high rate and low cost, and are suitable as an alternative to existing payment networks. In February, developers Joseph Poon and Thaddeus Dryja proposed a decentralized Bitcoin Lightning Network where related transactions can take place instantly on "micropayment channels" off-chain, and only the final settlement is processed by the blockchain. According to the authors, lightning networks would enable Bitcoin....
Social network Zion onboards users to the Lightning Network to free them from big tech censorship, revenue restrictions and data collection.
Lightning Labs, one of the prominent companies working to realize the lightning network, announcedthis week the alpha release of the open-source lightning daemon they've been spearheading: LND. While only compatible with Bitcoin’s testnet so far, the software is relatively feature-complete and operational. “We’re now looking for the wider community to test the software,” Joseph Poon, Lightning Labs developer and co-author of the lightning network white paper, told Bitcoin Magazine. “To get it ready for widespread use, but also to explore new use cases this enables.” The Lightning Network.....