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CoinGate’s Lightning Network To Boost Bitcoin Adoption, 4,000 Merchants Already Onboard

The Lightning Network is about to breach the 102 BTC capacity, and that could very well be the nicest thing to happen to Bitcoin of late. The Lightning Network brings to Bitcoin what everyone has been waiting for all along: A faster, secure payment processing system right at the top of the Bitcoin blockchain. That’s exactly what CoinGate sought to achieve when it introduced the Lightning Network.

It’s Like An Off-Shoot Of The Chain

Basically, this network acts as an off-chain layer to the Bitcoin blockchain where a batch of transactions can be processed before the underlying general chain or ledger is updated. This has the good effect of boosting the transaction processing speed since the system doesn’t have to update every transaction instance separately.

Granted, such a positive development would obviously attract players and support from various bases, especially the key stake-holders like merchants. At the moment, CoinGate has decided to add its 4,000-strong merchant base to the Lightning Network, a move that could result in an overall improvement in terms of use of the cryptocurrency. In return, this increased adoption would boost Bitcoin’s trading volumes and impact the coin’s market value positively.

Speed, Low Fees, Sharp Growth, And Zero Errors

Besides processing transactions in milliseconds, the Lightning Network also significantly reduces transaction fees. The Lightning Network facilitates instant transactions and boosts the scalability of the underlying Bitcoin blockchain network. Currently, various versions of Lightning Wallets are used by a number of transaction processing entities that act on behalf of the merchants.  The merchants include Lois Chevrolet, Livejasmine, and Chronoswiss. The network was first introduced by Joseph Poon and Thaddeus Dryja back in 2015 when the Lithuanian-based company, CoinGate, entered the market.

A look at the network’s recent growth rate confirms that its impact on the Bitcoin market will be significant. Over the past month alone, the network’s capacity has shot up by 5%, node count has increased by 10%, and channel count has gone up by 6%. At the moment, the network boasts 3,369 nodes running over 12,000 channels. Within the past 6 months, the network capacity has shot up from 3 BTC to the current 102.64 BTC.

During its initial beta test, the network was involved with 100 stores selected from all across the world, and not a single error was recorded. That’s a huge plus for a payment processing system that’s handling billions of transactions per second. In terms of partnerships, CoinGate is yet to associate with any US entity, but that’s expected to happen in the coming year. All said and done, the Lightning Network seems pretty poised to take Bitcoin adoption to a whole new level.

The post CoinGate’s Lightning Network To Boost Bitcoin Adoption, 4,000 Merchants Already Onboard appeared first on Ethereum World News.

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Stellar Lumens (XLM) Accelerates Global Adoption While Reducing Friction in cross-border Payments

It is the very right time to announce a team-up that will improve Stellar Lumens XLM adoption globally. SHIFT Markets has declared a new partnership with Lightyear to integrate Stellar technology into the exploding market. SHIFT presently services upwards of sixty crypto exchanges on a global basis.

Stellar Lumens XLM

Ian McAfee – SHIFT’s CEO and Founder, added:

“This is an exciting partnership for us as many of our exchange clients would like to offer Lumens trading on their exchange. Their commitment to provide low-cost financial technologies in developing nations makes them a good fit for our market. We aim to increase Lumen liquidity and usage for both major and exotic fiats,”

The platform SHIFT Markets bring the Stellar’s network a key entry to many regions, where many coins have not the opportunity to be adopted. This clearly bring XLM to a state where it can be paired with various traditional currencies, and we know what it will mean for the price.

On standard, traders have to buy leading coins like Ethereum’s ETH or Bitcoin‘s BTC and then send that to an exchange and pair it with Stellar’s XLM. This step is quite a barrier, within which removal great expansion will be reached for the network.

Paul Arnautoff – Director of Sales and Partnerships at Lightyear.io:

“With new on-ramps and off-ramps for fiat to virtual currency, the Stellar network continues to expand its mission of financial inclusion and reducing friction in cross-border payments,”

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Ripple’s XRP with Excitement Accepted at Bitcoin Superstore: The CEO’s Vision

The daily basis flow of news regarding Ripple’s token asset XRP is a standard in the crypto-verse community. Whenever you type on Google or any search engine Ripple or XRP new information like specific development or partnership will represent itself. This characteristic showcases how hard the team is working to fulfill its CEO’s Brad Garlinghouse vision of the companies financial solutions being adopted global wide.

XRP Bitcoin Superstore

After partnering with Wirex, the company was able to add XRP token support to its Visa card. Subsequently, the number of sign-ups and transactions on the platform had a considerable boost.

The very fine qualities of XRP continue to pull users and firms towards itself with the latest addition of Bitcoin Superstore. Earlier this year, Brad Garlinghouse, the CEO of Ripple said the only way of XRP decoupling from Bitcoin influence is through mass adoption. 

This movement has supported the saying that the token has more utility than predicted and in fact the firm pushed up ahead and donated millions for humanitarian causes and charity. The first feedback was not that big, however judging from the most recent development Ripple is enjoying the last piece of the cake.

With the above announcement by Bitcoin Superstore via their twitter handle, users can almost in an instant complete settlements with XRP while purchasing from different retail outlets. These outlets being the leading ones like eBay, Amazon and others. If you choose to go for this option remember that XRP in the past has given out results of being cheap for both the merchant offering to accept the token and the user.

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