Tether launches Synonym to boost Bitcoin adoption through Lightning Network
The new venture is pursuing hyperbitcoinization by combining the Lightning Network’s speed with the architecture of an open peer-to-peer platform. Synonym Software Ltd., a company founded by stablecoin issuer Tether Holdings Limited, officially launched on Tuesday, setting in motion a highly ambitious project to bring Bitcoin (BTC) transactions mainstream through an independent financial platform that utilizes the Lightning Network. Synonym’s stated goal is to enable self-ownership and control of crypto assets by creating an open financial ecosystem that utilizes Bitcoin and the Lightning....
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The new mobile wallet, called Bitkit, was unveiled at the PlanB Forum conference in Lugano, Switzerland on Oct. 29. Bitcoin and Lightning Network service provider Synonym has launched a new BTC-focused mobile wallet it says could enhance the user experience for holders of the flagship digital currency — and broaden Web3 adoption without relying on convoluted blockchain applications.Synonym unveiled its mobile Bitcoin (BTC) wallet, dubbed Bitkit, at the PlanB Forum in Lugano, Switzerland on Oct. 29. The wallet supports BTC and Lightning Network payments with a self-custodial node and....
During the last few weeks, a number of individuals have been discussing the upcoming release of Bitcoin Core version 24.0 and how the codebase will include full-replace-by-fee (RBF) logic. The discussion has become controversial as a few Lightning Network and zero confirmation advocates have expressed a distaste for the full-RBF idea. The CEO of Synonym, John Carvalho, has been a vocal critic of the proposal on Twitter and on Nov. 3, Carvalho remarked that a subset of Core developers “are currently trying to attack Bitcoin by forcing a pet agenda to make all transactions RBF by....