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Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

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U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.

Strike, the leading digital payment platform built on Bitcoin’s Lightning Network, has announced the expansion of its “Send Globally” product to the Philippines. This will allow for fast, secure and low-cost money transfers between the U.S. and the Philippines, which is one of the world’s largest remittance markets. The Philippines relies on more than $ 35 billion annually in money sent from abroad, with over $ 12 billion coming from the U.S. alone.   Read more...

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Major Adoption News For Bitcoin: POS Giant Clover Starts Lightning Trial

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Bitcoin’s adoption into the mainstream – not only as a store of value but also as a means of payment – took a big step forward today. As Strike CEO Jack Mallers announced via Twitter, the Bitcoin Lightning Network went live yesterday with Clover.

On Twitter, Mallers announced that Strike is now an integrated partner with payments giant Fiserv, Clover’s parent company. As a result, Strike has launched a pilot integration with Clover that will allow merchants to accept Bitcoin payments through the Lightning Network.  Read more...

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POS Giant Clover Teams Up With Strike To Bring Bitcoin’s Lightning Network To Millions Of Merchants

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A 90-day trial period kicks off Clover’s integration with the Bitcoin Lightning Network, enabling faster, cheaper payments at merchants.

Strike CEO Jack Mallers has taken to Twitter to announce that Strike is now an integrated partner with payments giant Fiserv, parent company of Clover. Subsequently, Strike has launched a pilot integration with Clover allowing merchants to accept bitcoin over the Lightning Network.

According to his announcement, the integration is not limited to Strike. Instead, merchants will be able to accept Lightning payments from any source — “From Cash App to a node over Tor. If it can make a Lightning payment, you can use it,” Mallers stated on Twitter.  Read more...

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Mt Pelerin Crypto Exchange Adds Support For Bitcoin Lightning Network

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The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.

Mt Pelerin, a Swiss-based cryptocurrency exchange, has announced new support for the Bitcoin’s Lightning Network on their app.

The press release sent to Bitcoin Magazine describes how “users can now get Bitcoin directly on the Lightning network easily, by card or bank transfer, spend, receive and manage their sats with Mt Pelerin’s mobile app Bridge Wallet and cash out funds from Lightning back on their bank account in 14 currencies.”  Read more...

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Bitcoin Lightning Podcasting App Fountain Releases Update Aimed At Improving New Users’ Experience

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Amongst other updates designed to make new users’ experience easier, a new software update enables wallet funding directly through the application.

Fountain Podcasts, a Lightning-enabled podcast app designed to facilitate value for value transactions, has introduced their 0.6.0 update with many features oriented towards capturing new value for value users. 

In a blog post, Fountain highlighted the new ability to fund your Fountain account via a partnership with MoonPay. Through this partnership, users can now use a debit card or credit card to purchase satoshis which arrive in the app’s wallet shortly thereafter.  Read more...

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MicroStrategy To Launch Bitcoin Lightning Solutions In 2023: Saylor

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Bitcoin Lightning applications that MicroStrategy plans to release include enterprise infrastructure services and content monetization solutions, Saylor said.

MicroStrategy will release software applications and solutions powered by the Bitcoin Lightning Network in 2023.

MicroStrategy executive chairman Michael Saylor spoke about his company’s plans in a Twitter Spaces room on Wednesday, shedding light on some of the offerings currently in the works at the software firm.  Read more...

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Can Antoine Riard’s Lightning Network Proposal Mitigate Channel Jamming Attacks?

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A protocol proposal from Antoine Riard seeks to mitigate Lightning Network channel jamming attacks with a Chaumian ecash token.

This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.

Channel jamming is one of the most threatening outstanding problems with the Lightning Network. It presents an open mechanism to denial-of-service attack nodes on the network to prevent them from routing, losing them money while their liquidity is locked up and unable to forward payments that will earn them fees. An attacker can route a payment through other nodes from themselves to themselves, and refuse to finalize the payment. This makes that liquidity useless for forwarding other payments until the hashed timelock contract (HTLC) timelock expires and the payment refunds.  Read more...

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Lightning Paywalls Versus Value4Value Asks

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Where a Lightning-powered microtransaction paywall beats a Value4Value bitcoin ask: A nuanced breakdown.

This is an opinion editorial by Will Schoellkopf, author of “The Bitcoin Dog” and host of the Bitcoin podcast “It’s So Early!”

When it comes to paywalls versus #value4value, is it really all or nothing?

Author’s note: My aim is not to attack anyone personally. I will use specific people’s quotes for my examples, but my intent is to respectfully challenge ideas, not attack people. Healthy debate of ideas in good faith helps Bitcoin, so I hope they understand.  Read more...

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CoinCorner Partners With Pouch To Bring Instant Remittance Payments To The Philippines Utilizing Bitcoin’s Lightning Network

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The Philippines’ remittance market now has a faster, cheaper option through the use of the Lightning Network.

Customers in the U.K. and Europe can now use CoinCorner’s Send Globally feature to transfer funds to the Philippines after partnering with Pouch, a Lightning service provider based in the Southeast Asian country.

Send Globally utilizes the Lightning Network to convert one fiat currency into bitcoin, which is then sent over the Lightning Network to a receiving entity which converts the bitcoin into another fiat currency, effectively making global payments instant.  Read more...

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Integrating Statechains With Lightning Channels Can Allow For Off-Chain Balancing And Improved Flexibility

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A Commerceblock BLIP facilitates Lightning channels built on Bitcoin statechains, improving flexibility for the Layer 2 protocol.

Last year, I wrote about Commerceblock’s Mercury Wallet, an implementation of both statechains and CoinSwaps. This simultaneously introduced a new mixing tool as well as the first wallet to implement a new second-layer scaling solution. The team built off of Ruben Somsen’s original statechain proposal with some changes to make it work without the needed ANYPREVOUT/Eltoo sighash flag, and integrated a new CoinSwap design to allow users to mix multiple times without needing to transact on chain for each mix.  Read more...

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DLCs On Lightning Open The Door For Bitcoin Smart Contracts

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The first successful discreet log contract has been executed on the Lightning Network by creating a new type of transaction when opening a Lightning channel.

The below is a direct excerpt of Marty's Bent Issue #1286: “The first mainnet DLC on Lightning has been executed.” Sign up for the newsletter here.

Transaction graph showing how the DLC was executed
via Crypto Garage

It's been exactly 11 months and two days since we wrote about discreet log contracts (DLCs) in this rag. For those of you who are a bit rusty or completely ignorant in regards to what a Discreet Log Contract is, it is a special type of bitcoin transaction that executes a smart contract with information provided by an oracle.  Read more...

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Exploiting The Lightning Bug Was The Ethical Choice

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By publicly exploiting a bug on Lightning that could have put users’ funds at risk, the developer was acting in the best interests of Bitcoin node runners.

This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.  Read more...

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Another Bug Briefly Took Down Part Of The Lightning Network

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The nature of open-source distributed systems leaves some vulnerabilities open to exploitation, but should bugs be exploited publicly or disclosed in private?

The below is a direct excerpt of Marty’s Bent Issue #1278: “Another LND/btcd bug emerges.” Sign up for the newsletter here.

via GitHub

For the second time in less than a month, btcd (an alternative implementation of Bitcoin) and, by extension, LND (one of the Lightning implementations) became incompatible with the rest of the Bitcoin network due to some meddling from a developer named Burak.  Read more...

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NYDIG Parent Company Stone Ridge Launches Wolf, A Bitcoin Lightning Network Accelerator

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NYC based Bitcoin Lightning Network accelerator launches to empower those building and advancing the layer two protocol with a world class program.

Stone Ridge Holdings Group, parent company of NYDIG, has launched Wolf’s Clothing, a New York City (NYC) based Bitcoin start up dedicated to the Lightning Network, per a press release sent to Bitcoin Magazine.

Wolf aims to bring founders and startups from all over the world to NYC for eight weeks at a time to “to focus on the development, growth, and funding of companies building on Lightning.” The program will accept companies building on Lightning and Taro across a broad range of themes and is open to all applicants.  Read more...

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Bitcoin’s Lightning Capacity Soars, Why The U.S. Plays A Big Role

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One of the largest Bitcoin Lightning Network (LN) node operators, River Financial, recently posted a report on this second-layer payment solution. Previously conceived as an experiment used by savvy BTC holders, the LN is quickly becoming a key component in this blockchain’s ecosystem and its potential ticket into the mainstream.

The report defines the LN as a second-layer Bitcoin solution that enables users to send and receive transactions off-chain, “without needing to wait for on-chain settlement”. This solution was created to improve BTC’s payment scalability by allowing entities to quickly transact in small amounts of the cryptocurrency without relying on block settlement.  Read more...

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River Financial Releases New Lightning Integration Currently Used By El Salvador

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River’s Lightning service is the backbone for Chivo Wallet in El Salvador and removes the need for developers to have their own Lightning infrastructure.

  • River Financial launches a new Lightning Network product for businesses and institutions.
  • RLS has been the backend service provider of El Salvador’s Chivo Wallet for over a year.
  • River has other well-known customers in the works to be onboarded to the Lightning Network.

River Financial, a fintech company focused on Bitcoin services, has released River Lightning Services (RLS), a Lightning Network integration to help businesses, and institutions leverage the network, per a release sent to Bitcoin Magazine.  Read more...

This is a preview of River Financial Releases New Lightning Integration Currently Used By El Salvador. Click Here To Read the full post

The Winners In Michael Saylor’s Impromptu Lightning Network-themed Meme Contest

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A notorious altcoiner tried to test Michael Saylor’s commitment to bitcoin and this is what he got. A meme contest. And in this post, you’ll get to see two of the three winners. Don’t scroll down! You should read the whole story first, to get the full effect. The theme of the discussion was the Lightning Network. Bitcoin’s second layer solution is one of the success stories of the last few years, but does a billionaire like Michael Saylor use it?

This is a preview of The Winners In Michael Saylor’s Impromptu Lightning Network-themed Meme Contest. Click Here To Read the full post

MicroStrategy Looks To Hire Bitcoin Engineer For Building Lightning Platform

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The job posting details an enterprise SaaS platform to innovate ecommerce and cybersecurity leveraging Bitcoin and the Lightning Network.

  • MicroStrategy is looking to hire a Bitcoin software engineer.
  • The new hire will be tasked with building an enterprise-grade ecommerce and cybersecurity SaaS platform based on Bitcoin and the Lightning Network.
  • The job posting shows preference for Bitcoin and Lightning developers, but also considers some DeFi experience.

Software analytics firm MicroStrategy, the largest corporate holder of BTC, is hiring a Bitcoin software engineer to build a new Lightning-based enterprise platform.  Read more...

This is a preview of MicroStrategy Looks To Hire Bitcoin Engineer For Building Lightning Platform. Click Here To Read the full post

How The Lightning Network Could Enable A More Decentralized Web

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The peer-to-peer nature of the Lightning Network allows the building of functions that help decentralize the web.

This is an opinion editorial by Kishin Kato, the founder of Trustless Services K.K., a Japanese company focused mainly on Lightning Network research and development.

This is the third article based on the content of the “Understanding Lightning” report produced by the Diamond Hands community, the largest Lightning Network community in Japan. The report aims to provide an overview of Lightning’s technology and ecosystem for a non-technical audience. The first article can be found here, the second can be found here.  Read more...

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New York Digital Investment Group Announces Lightning Accelerator Project Called “In Wolf’s Clothing”

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The Lightning accelerator, Wolf, will be based in Manhattan, New York and is exclusively non-remote. It will include mentorship, funding and work space.

On August 26, 2022, Ross Stevens, CEO of Stone Ridge Holdings Group and executive director of the New York Digital Investments Group (NYDIG) subsidiary, made an impromptu appearance at BitBlockBoom in Austin, Texas, for a special announcement.

Stevens has long been a proponent of Bitcoin through his Stone Ridge shareholder letter, his co-written article, “On Impossible Things Before Breakfast,” participation in the MicroStrategy corporate strategy program and interview with famous bitcoin proponent, Michael Saylor.  Read more...

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