lightning network

Second Bitcoin Lightning Torch On The Move – Already Above 0.01 BTC

The second version of the “Lightning Torch” (LN Trust Chain 2.0) was recently launched on its birthday, and the community keeps spreading it around the globe. Its primary purpose continues to be the same – to raise people’s awareness of the benefits of Bitcoin’s off-chain scaling solution – the Lightning Network. The New Lightning Torch:...
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Bitcoin’s Lightning Network Sees Considerable Growth, According To BitMEX Research

BitMEX Research, the analysis arm of the popular Bitcoin margin trading exchange, recently published a report on the Lightning Network (LN). The scaling solution for the world’s largest cryptocurrency demonstrates considerable growth across several aspects. Bitcoin’s Lightning Network Grows The Lightning Network, which is Bitcoin’s off-chain scaling solution, continues to grow. According to a recent...
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Lightning Network Traffic Analysis Raises Questions Over Fees and Privacy

A new research paper provides what is perhaps the most informative series of snapshots simulating Lightning Network traffic over the past year. The paper, titled “A Cryptoeconomic Traffic Analysis of Bitcoin’s Lightning Network,” was written by a trio of Hungarian researchers: Ferenc Béres of the Institute for Computer Science and Control, István A. Seres of...
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Bitcoin’s 2019 in Lightning: What This Year Brought Us (Part 2)

Read Part 1 of our series, Bitcoin’s 2019 in Tech: What This Year Brought Us, here. Even as we entered 2019 in a bear market, the receding bitcoin price was matched by a rising tide of excitement for and development on Bitcoin’s second layer payment protocol, the Lightning Network. Over the course of the year,...
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Bitcoin Developer Throws Light on BTC’s Upcoming Future

Bitcoin (BTC) attracts the most attention with its price action. But the technological capabilities of the leading coin should not be underestimated. Bitcoin Network Evolves with Lightning Payment Innovations In 2020, more than a decade after the Genesis block was created, the Bitcoin network will have changed in unexpected ways. Beyond highly active mining and...
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Crypto Experts Give Their Top Predictions for 2020

In an industry built around digital scarcity, opinions are in plentiful supply. Everyone’s got one, and they’d love to share it with the rest of the cryptosphere. As the decade draws to a close and another prepares to launch, it’s the perfect time to consider what 2020 has in store. Here’s what thought leaders, professionals,...
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Here’s What Happens When You Use Lightning Network for the First Time

Do you remember receiving your first bitcoin? Seeing those satoshis arrive in your wallet is a magical, almost spiritual, experience. In that moment, the most beautiful thing about bitcoin is not its censorship resistance or pseudonymity: it’s that it works at the first time of asking. No pending account verification, no weekend processing delays, and...
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Lightning Network Wiki Page Faces Removal for Lack of Notability

A slew of Wikipedia editors would like to delete the Lightning Network (LN) Wiki page because the subject matter does not hold notability. Wikipedia editors use notability as a test to find out if a topic warrants its own article. The LN article debate on Wikipedia is still raging as a few editors believe the...
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Bitcoin Scaling Layer Lightning Network “Works Like a Charm”, Says Bitfinex CTO

The first week of Lightning Network support at cryptocurrency exchange Bitfinex, has seen more than 800 transactions make use the Bitcoin payments layer. The company’s Chief Technical Officer Paolo Ardoino says customers have deposited more than seven Bitcoin (~$52,000) to the exchange since it added Lightning payments.Despite recent Lightning Network vulnerabilities, it appears to be...
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Leveraging Lightning, Bitfinex Users Can Now Shop at Bitrefill

The Lightning Network may have just gotten its first business-to-business (B2B) payment channel. Two of the most prominent Bitcoin companies in the space are collaborating: Bitfinex users can now shop at Bitrefill, straight from their trading environment on bitfinex.com. With access to the entire Bitrefill catalog, Bitfinex customers can use their account balance to buy...
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Video: Bitfinex CTO Paolo Ardoino on Adding Lightning Network Support

On December 2, 2019, Bitfinex officially informed its subscribers that it had added support for Lightning Network deposits and withdrawals. Subsequently, Bitfinex CTO Paolo Ardoino confirmed the information in a tweet.  A few days before this announcement, Ardoino agreed to do an exclusive interview with Bitcoin Magazine to provide more technical details about the Lightning...
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Lightning Network User Recovers Most of the 4 BTC Presumed “Lost”

A little while ago, there was some commotion over a user losing 4 BTC through the Lightning Network. That situation has now changed for the better. A lot of people were taken aback by how unsecure the Lightning Network turned out to be. Rectifying the Lightning Network Narrative If a user could lose 4 BTC...
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Academics Highlight Flaws and Potential of Bitcoin’s Lightning Network

The viability of Bitcoin’s Lightning Network is a topic of substantial debate. Researchers are now confirming some of those concerns, albeit it’s not all bad news either.  Emin Gun Sirer recently shared academic research regarding the Lightning Network. Good and bad Lightning Network Findings One part of the paper confirms it is not economically viable...
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On Lightning, Messaging Apps Emerge as Growing Use Case

“Does instant messaging over Lightning have killer application potential?” Lightning Labs developer Joost Jager asked his Twitter followers this rhetorical when he debuted a demo for his Lightning Network messaging application, Whatsat. Your average Bitcoiner probably wouldn’t think of messaging as one of Lightning’s killer use cases, at least not before micropayments, streaming payments and...
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4 Bitcoin ‘Loss’ On Lightning Network is FUD, Says Community

A reported loss of 4 bitcoin on Lightning Network has been blamed on either user-negligence or FUD-spreading. Community members variously described the user as ‘an idiot’ and ‘in over his head’, if the loss really occurred at all. “Wow… looks like I lost 4 BTC” It all started with a question posted on Reddit along with some screenshots:...
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The Year 2019 has Been Very Educational for Lightning Network Developers

Scaling Bitcoin to a more mainstream level will most likely happen through layer-two solutions. The Lightning Network is of great interest in this regard, despite its crucial flaws and shortcomings. A recent list of known vulnerabilities confirms there is plenty of work ahead prior to making this technology more widely accessible.  The Long Bug List...
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Lightning Network User Confused By Protocol: Lost 30,000 USD

The Lightning Network has long been touted by its proponents as a speedy, low-cost solution to Bitcoin’s scaling issues. A series of security scares and UX issues have called that vision into question however. The latest LN slip-up saw a user lose 4 BTC in one fell swoop. Also read: Hidden Lightning Network Bug Allowed...
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Bitcoin Lightning Network User Loses US$30,000

On paper, the Lightning Network is designed to make Bitcoin a lot more versatile. The world’s leading cryptocurrency struggles when it comes to smaller transactions and payments. With the LN technology, that situation can be rectified in the near future. However, there are still users who lose money using this technology due to force-closing payment...
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Lost Bitcoin Could Become Recoverable, Blockstream CEO Confirms

Blockstream CEO, Adam Back, says that the company is looking at implementing a method by which lost bitcoin will become recoverable. But before you stop trawling through the tip for that old hard drive you threw out, he wasn’t referring to those lost bitcoin. Backup Bitcoin Keys Talking during an interview at the Lighting Conference in Berlin,...
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Fortnite-like Lightnite Video Game Can Help You Earn Bitcoins

Satoshis Games Studio used the Lightning Network to integrate Bitcoin micro-transactions within their new video game dubbed Lightnite. Most of us are very well familiar with the online video game Fortnite where you cooperate with other players in carrying out some goals. However, what would happen if the goal is – a Bitcoin? Exactly that...
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Culprits can Cripple the Lightning Network for Just $2,000, Researchers Claim

Any new form of technology is prone to bugs and hacks. That situation is no different in the cryptocurrency industry today. The Lightning Network, a layer-two scaling solution for cheaper and faster payments, can be subjected to an attack. That attack can effectively halt lightning payments, which is far from an ideal situation.  What is...
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Lightnite: Like Fortnite — But With Bitcoin, Powered by Lightning

On October 19, 2019, the team behind video game portal Satoshi’s Games presented Lightnite: an online multiplayer third-person shooting game whose microtransactions are entirely powered by the Lightning Network. This is the grandest and most ambitious project of the team thus far, and it promises to bring more bitcoin adoption to the video game community....
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Bitcoin-Integrated Battle Royale Game Lightnite Lets Players Earn BTC

Multi-player battle gaming can now happen on the Bitcoin Lightning Network, courtesy of Satoshis.Games. The platform, introduced during the latest LN conference, allows players to earn and spend BTC directly, during the gaming process. Game Integrates with Bluewallet and LN Payment Channels The Lightning Network has opened doors to long-awaited BTC microtransactions, and has found...
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Bitcoin developer Jimmy Song denounces hidden information; calls for transaction awareness

Recently, Bitcoin developer, educator and entrepreneur Jimmy Song released a Q&A video for Bitcoin Tech Talk #158, a video during which Song addressed several issues and concepts associated with Bitcoin. The first one was Bitcoin Transaction Monitor, which provides data about any transaction entering the mempool in a visual manner, while also allowing them to...
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DropBit Adds Lightning Network Support

DropBit, a bitcoin wallet and payment service provided by CoinNinja, allows you to send bitcoin to people who don’t own any. Now, it’s using Lightning Network to beef up its self-stylized role as the Venmo for bitcoin. Revealed exclusively to Bitcoin Magazine ahead of a public announcement, the DropBit app has built out its own...
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The Casa Node 2 Offers big Improvements for a Slightly Higher Price

Making cryptocurrencies more accessible and appealing to consumers is a difficult task. Casa is on the right track, at least where tech enthusiasts are concerned. The recently announced Casa Node 2 is a very interesting project for those willing to experiment with Bitcoin and Lightning Network technology.  The Casa Node 2 For a cryptocurrency that...
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French State-Owned Bank Joins $8M Lightning Network Startup Funding

Bpifrance is one of the three major backers of Bitcoin’s Lightning Network implementation developer ACINQ. One of the developers of Bitcoin’s (BTC) Lightning Network has secured $8 million in funding from partners, including a bank partially owned by the French state. State-owned Bpifrance funds Lightning development In a press release published on Oct. 9, Bitcoin...
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French Government-owned Bbifrance Joins Lightning Network Developer ACINQ’s $8 Million Investment Round

Veronique Jacq, managing director of the Digital Investment Unit at Bpifrance, says that the institution is “convinced that bitcoin is becoming more and more obvious.” Jacq, who heads the partially state-owned French investment bank, stated that bitcoin is gradually becoming an important part of the global economy. In order to keep up with the latest...
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State-Owned French Bank Joins Bitcoin Startup’s $8 Million Series A

news “We’re convinced that bitcoin is becoming more and more obvious.” That’s not typically what one might expect to hear from a veteran banker at a public institution. But Veronique Jacq of the partially state-owned French investment bank Bpifrance told CoinDesk bitcoin is becoming a staple of the global economy. That’s why Bpifrance just made...
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Bitcoin’s Dropping Lightning Capacity Might Not Be a Bad Thing

If you’re a fan of bitcoin and the nascent Lightning network, this graph looks disheartening at first glance. Graph of lightning capacity from bitcoinvisuals.com. The orange line is the BTC capacity; the blue line is its dollar value. The lightning network is supposed to be bitcoin’s superhero, taking the cryptocurrency to new heights by tackling...
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