Bitcoin 

Electrum Bitcoin Wallet to Support Lightning Network in Next Release

The next release of major Bitcoin (BTC) wallet software Electrum will support off-chain scalability solution Lightning Network (LN). The Electrum official Twitter account announced the upcoming LN integration in a tweet sent on Oct. 14. The tweet announced: “The next release of Electrum will support Lightning payments. Our lightning node implementation has been merged into Electrum’s master branch.” Electrum also confirmed that the wallet will employ a new implementation developed in-house, written in Python. High hopes for Lightning Network Lightning Network is believed by many Bitcoin proponents to be the…

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Bitcoin 

French State-Owned Bank Joins $8M Lightning Network Startup Funding

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 technology company ACINQ confirmed the news. This brings its total investment to $10 million. The funding came from the lead contributor Idinvest Partners, which focuses on small and medium-sized European businesses. Also involved was Bpifrance, an investment bank created by two French public entities. As such, the government has come…

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Bitcoin 

10,000 Nodes Are Running BTC Lightning Network in New All-Time High

The number of Bitcoin (BTC) Lightning Network (LN) nodes has reached 10,000 for the first time, according to real-time LN statistics site 1ML. According to 1ML, the number of nodes on the LN has grown by 3.17% over the past 30 days to reach a record high of 10,003 network nodes at press time. At the same time, the number of nodes with active channels is 5,975 out of total of 36,246 channels at press time, with just a 0.34% growth over the past month.  The LN is a second-layer…

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Bitcoin 

Fold App Raises $2.5M to Bring Bitcoin Lightning Payments to Starbucks

The Fold app, a mobile shopping app that supports Bitcoin’s Lightning Network enabling users to withdraw funds to an external Bitcoin (BTC) wallet, has raised $2.5 million and added a fiat currency payment option.  In a Sept. 25 blog post, Fold’s editor, Will Reeves, informed the public that the app’s users can now spend both fiat currency and Bitcoin at online and in-store retailers by synchronizing their credit card or Lightning wallet.  Fold has also enabled its users to stack sats when making purchases with fiat and Bitcoin at major…

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Bitcoin 

Use Lightning Network to Buy Bitcoin — Avoid Coinbase, BitPay

The creators of Bitcoin (BTC) wallet Zap have revealed a new tool for instantly purchasing Bitcoin using a bank account via the Lightning Network. Lightning powers instant debit card Bitcoin buys In a blog post and associated social media posts on Sept. 19, Zap Solutions founder Jack Mallers said Olympus was specifically designed to bypass extant offerings from BitPay and Coinbase. The Lightning Network facilitates instant delivery of BTC purchases, and Know Your Customer (KYC) procedures are kept to a minimum.  “Someone who has never experienced Bitcoin before should be…

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Bitcoin 

Lightning Labs CTO Confirms LN Vulnerabilities ‘Exploited in the Wild’

Following a recent warning on vulnerabilities on Bitcoin’s (BTC) Lightning Network (LN), a startup claims to have found instances of the vulnerability being exploited. Upgrade advised to avoid loss of funds Olaoluwa Osuntokun, CTO at LN-focused startups Lightning Labs and ACINQ, revealed the news in a brief statement on Linux Foundation’s domain on Sept. 10, claiming that there are confirmed instances of Common Vulnerabilities and Exposures (CVE) “being exploited in the wild.” The vulnerability was first reported on Aug. 30 by LN coder Rusty Russell. At the time, the Australian…

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Ethereum 

Lightning Network Proving Less Electric for Bitcoin Than Promised

Bitcoin (BTC) turned 10 years old recently, and if someone were to tell its founder, Satoshi Nakamoto, in 2008 that the new decentralized currency would still be thriving in 2019, he/she/they may assume that the experiment succeeded. However, an idea like Bitcoin is capable of existing even if it isn’t very effective at delivering on its promises, and it just so happens that a decade later, everyone is still knocking their heads against the very first criticism made in response to its white paper. After Satoshi published Bitcoin’s white paper in 2008, the…

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Bitcoin 

Australian Coder Warns Users of Lightning Network’s Vulnerabilities

Australian software programmer and Bitcoin’s (BTC) Lightning Network coder Rusty Russell warned users that “security issues have been found in various Lightning projects which could cause loss of funds.” Urgent update recommended On Aug. 30, Russell published a tweet urging LN nodes operators to update their software as soon as possible. According to the message, his warning concerns all versions of c-lightning prior to 0.7.1, lnd older than 0.7, and eclair up to version 0.3. Notably, just earlier this month blockchain development company Blockstream announced the release of the version…

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Bitcoin 

Andreas Antonopoulos Announces New ‘Mastering Lightning Network’ Book

Andreas Antonopoulos announced his new “Mastering Lightning Network” book, co-authored by René Pickhardt and Lightning Labs CTO, Olaoluwa Osuntokun. Antonopoulos, Osuntokun and Pickhardt announced their new book, “Mastering Lightning Network,” in a YouTube video published on Aug. 28. In the video, Antonopoulos noted that the three will start writing in September and that they expect to need about a year to release it. He also noted: “We’re inviting everyone in the community to help us with contributions.” On a quest for Lightning Network education Pickhardt explained that what motivated him to…

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Blockchain 

Bitcoin Lightning Network Implementation C-Lightning Gets an Upgrade

Blockchain development company Blockstream announced the release of version 0.7.2 of its scalability software c-lightning. On Aug. 20, Christian Decker, a blockchain researcher at Blockstream, announced the new release on Twitter. According to the post, the latest version of c-lightning supports dynamic plugin management as well as “the upcoming signet.” This version is also named “Nakamoto’s Pre-approval by US Congress,” and is available via GitHub. C-Lightning and the Lightning Network As previously reported by Cointelegraph, c-lightning is one of the implementations of the Lightning Network, which is an additional layer…

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