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P2P Bitcoin Exchange HodlHodl Launches Lightning Network Support

Non-custodial peer-to-peer exchange HodlHodl announced Lightning Network support.

Non-custodial peer-to-peer (P2P) bitcoin (BTC) exchange HodlHodl announced Lightning Network support in a Medium article published on June 5.

The announcement claims that now “everyone is able to buy bitcoins and receive them directly into their Lightning wallet & sell bitcoins directly from their Lightning wallet.” The post also notes that the platform has previously tested Lightning Network support on the test network.

The company reportedly only implemented Lightning Network support after successful testing. The post further highlights that the actual procedure will not be much different when compared to the usual HodlHodl transaction:

“The only difference is that for the contract lifetime we hold funds in our Lightning wallet which protects both buyer and seller from scams, and the contracts become cheaper, faster and simpler. ”

Lastly, the company notes that the implementation will not affect the rest of the platform, and that the regular bitcoin on-chain multisignature contracts used on the platform will still be non-custodial.

As Cointelegraph reported yesterday, P2P crypto exchange LocalBitcoins — HodlHodl’s major competitor — has officially confirmed the removal of trading in local fiat currencies.

LocalEthereum, the similarly-named platform catering to ether (ETH) traders, announced it had removed cash transaction fees as a direct response to LocalBitcoins’ action.

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BitTorrent to Release P2P Social Media App BitTorrent Live in Q2 2019

Tron-owned p2p software company BitTorrent announced that it will release the beta of its decentralized social media app BitTorrent Live in Q2 2019.

Tron (TRX)-owned peer-to-peer (p2p) software company BitTorrent announced that it will release the public beta version of its decentralized social media app BitTorrent Live in Q2 2019 in a press release on March 27.

Per the release, the company started offering early access to the BitTorrent Live streaming service today. The app, a video-based social media platform seemingly similar to Snapchat and TikTok, allows its users to create live content and connect with other people through mobile devices.

The service will also reportedly let its users livestream from anywhere they have access to the internet while viewers will be able to instantaneously give feedback and likes. The app’s users can also search for subjects in which they are interested.

BitTorrent Live is not actually new, in 2012 Bram Cohen — the author of BitTorrent — said that his goal with the platform was “to kill off television.” While the software is not new, its character has changed much over time.

The first version of BitTorrent Live was mostly just a new content delivery protocol, not a social media app. The initial version of the application was shut down after the company unsuccessfully attempted to raise funds to spin it off as an independent business in April 2017.

In January, former chief strategy officer at BitTorrent Simon Morris said that Tron will not be able to manage the transaction volume needed to tokenize BitTorrent. Morris stated that there is “no way” the Tron blockchain could handle the transaction volume that the system would require.