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Lightning Network


The lightning network is due for a privacy boost. That’s according to Dr. Ayo Akinyele, a computer scientist who has focused his efforts on building a zcash implementation of anonymous off-chain payment architecture called BOLT. And today that work was published on Github. First conceived by zcash founders Matthew Green and Ian Miers in 2016, the …

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Those running lightning nodes are earning a little extra bitcoin. Trumpeted as a way to scale bitcoin to handle mainstream adoption, there’s a lesser-known perk to spinning up a lightning node to allow users to send cheap, instant payments – you can make money. To be clear, we’re not talking very much. Today’s average fee …

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PayPal 2.0? That may have been a rallying cry for early bitcoin believers who saw the cryptocurrency as a superior form of payment, but excitement tapered off as bitcoin ran up against technical limitations. Yet, the idea may now be coming back in vogue – apps being built on the layer-two technology lightning network, which this …

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A few lucky merchants now have one less obstacle to accepting bitcoin payments via the Lightning Network. Revealed exclusively to CoinDesk, payment processing startup CoinGate is opening up a pilot program that will allow 100 merchants to trial a Lightning-enabled version of its service, one which taps into the open-source tech meant to make bitcoin …

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Developer Jonathan Wheeler is at an impasse of sorts. The former bank employee turned developer doesn’t want to say too much about his newest project, an effort he believes could soon help people living under one of the world’s most oppressive monetary regimes. That’s because he needs others to help him with his mission – getting bitcoin …

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A bird? A plane? No, that’s just a giant penis spouting flaming bitcoin. Such is the canvas at Satoshi’s Place, a web app that allows savvy users to create digital pictures by sending small amounts of bitcoin. In the weeks since its release, the graffiti tool has become the site of territorial battles of pixel-space, …

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Michael J. Casey is chairman of CoinDesk’s advisory board and a senior advisor of blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Welcome to the “Layer 2” era. We are now entering an exciting new phase of blockchain development …

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You’re running a full bitcoin node, know Linux and have decent command line skills. Okay? Cool, go ahead and spin up a Docker instance. If that sounds intimidating, you’re not alone. But as recently as January, using the lightning network, a layer-two technology for scaling bitcoin, on “mainnet” – ie, with real money – called for these …

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Imagine a way to expand bitcoin payments to millions per second. Now, imagine a clunky, command-line interface. That’s the extent of the divide between the vision enabled by bitcoin’s best-yet scaling solution, the lightning network, and the current state of its design. But while that’s daunting, developers are moving ahead on designs to make the …

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There’s more to bitcoin’s lightning network than meets the eye. That said, data visualizations have become a favorite tool for bitcoin users eager to tell the story of the steady adoption of the in-development payments technology. Already, a ton of visualizers have been launched to depict the network in novel ways – from 3D renderings and …

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“Yes, we have created an attack framework for the lightning network.” The message from “bitPico” to CoinDesk confirmed what many had read in a popular chat group, that the pseudonymous user was flooding nodes running the software with traffic with an automated “attack toolkit.” Around the same time, a handful of developers reported lightning nodes …

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Not yet out of beta, hundreds of developers around the world are already experimenting with bitcoin’s newest technology – the Lightning Network – donating time and resources to help lay the groundwork for a more scalable version of the oldest and largest cryptocurrency yet created. So great has been the effort that there are now …

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Joe Ciccolo is the president of BitAML, Inc., a compliance service provider. Andrew Hinkes is an adjunct professor at the NYU Stern School of Business and NYU School of Law. This article is not intended to provide, and should not be taken as, legal advice. With just one paragraph, an agency of the U.S. government may …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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Jack Dorsey, the CEO of both Twitter and payment service Square, has said that he sees Bitcoin (BTC) as the world’s – and Internet’s – single future currency, The Times reports today, March 21. Dorsey believes that Bitcoin’s leading emergence will take “probably over ten years, but it could go faster”: “The world ultimately will …

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A lesser-known cryptocurrency with a unique approach to decentralized payments is hopping aboard the Lightning bandwagon. Making strides on an ambitious roadmap released earlier this year, the non-profit behind the cryptocurrency Stellar has released a formal specification describing how and when it plans to adopt the transaction tech originally invented for bitcoin, in the process …

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Lightning Labs released the first Bitcoin mainnet-ready Lightning Network (LN) implementation today, March 15, in what the company describes as an “important milestone”. In a blog post, Lightning Labs, whose product Lightning Daemon (lnd) helps developers easily connect to the LN, described it as having “the necessary safety, security, and fault-tolerance features required for real-world, …

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A version of bitcoin’s much-anticipated Lightning Network is finally ready for real users. Announced today, California startup Lightning Labs has officially launched a beta version of its software (LND), making available what investors and project leads say is the first thoroughly tested version of the tech to date. This means that users can now leverage …

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The Chubu Electric Power Company, the third largest electric utilities provider in Japan, has partnered with Internet of Things (IoT) startup Nayuta Inc and software company Infoteria in order to experiment with the possibility of using Blockchain technology to record the charging of electric vehicles (EV) and plug-in hybrids. The Lightning Network is set to …

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Japan’s third-largest electricity provider is emerging as one of the first major companies in the world to trial a promising bitcoin payments technology. Revealed exclusively to CoinDesk, Chubu Electric Power Co. has entered into a proof-of-concept with local bitcoin and Internet of Things (IoT) startup Nayuta, one that finds it exploring how bitcoin payments can be made …

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