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Inspector General Tells the US Mint not to Ignore Bitcoin any Longer

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Cryptocurrencies have a great impact on the financial sector. Even though most banks will ignore this technology for some time, […]

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If Bitcoin is Ponzi, So is Society: Analyst Criticizes Brazilian Central Bank President

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What Lightning Will Look Like: Lightning Labs Has Announced Its User Interface Wallet

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What Lightning Will Look Like: Lightning Labs Has Announced Its User Interface Wallet

Development of the lightning network, the lightning networkthe highly-anticipated second-layer Bitcoin protocol for instant microtransactions, continues to inch forward.

Lightning Labs, major contributor to the lightning network daemon, lnd, announced its cross-platform Lightning Desktop App last week. The open-source lightning wallet is essentially a user interface (UI) built on top of lnd and powered by Lightning Labs’ new open-source Bitcoin light client, Neutrino.

“This is the first functioning user interface for both sending and receiving lightning transactions with a light client mode,” Lightning Labs CEO Elizabeth Stark told Bitcoin Magazine.

The lightning network is currently being developed by several teams working on different but interoperable implementations of the protocol. Several of these implementations are functional, though only on Bitcoin’s test network (“testnet”): a sort of copy of the Bitcoin network with valueless coins specifically designed for testing new applications and more.

But, while there are already several lightning daemons available for testnet, most are only usable via command line tools. Developers Olaoluwa Osuntokun, Bryan Vu and Case Sandberg collaborated to now extend lnd with the new Lightning Desktop App to provide a user interface.

“I think the big takeaway is being able to visualize this technology and see what an early UI might look like,” said Stark. “It’s one thing to be using the command line, as our lnd testers and developers have been, but it’s another to be able to download the app. Being able to see this kind of progress is important.”

As part of the announcement, Lightning Labs also introduced Neutrino, the new open-source Bitcoin implementation that powers the Lightning Desktop App. As a main benefit, Neutrino users don’t need to download the entire Bitcoin blockchain, which is currently over 140 gigabytes in size. This makes the desktop app much more accessible to regular users who transact small amounts, for which the lightning network is particularly suited. And because Neutrino uses a new method of transaction filtering (client side instead of bloom filters), it offers more privacy than most light clients, too.

The release of the new Lightning Desktop App kicks off a two-week “testing blitz,” as the company described it in their accompanying blog post. Developers are invited to experiment with the desktop app itself, as well as with Neutrino. Further, it makes it much easier for anyone to play around with lnd and the lightning network itself.

“The really cool thing about having our desktop app out there is now there’s an easy way for people to interact with all of the apps that developers are building on Lightning, such as Yalls,” said Stark.

After the two-week testing period, the implementation will enter a regular release cycle. Releasing the wallet for Bitcoin mainnet, however, could take a while longer still, Stark explained:

“We’re working toward testing and making the software more stable before releasing a beta. This is financial software and its a protocol dealing with money, so we want to ensure people can have a good user experience.”

There is no specific deadline for the beta release, but Stark added that, “The next step is for us to gather feedback from testers and develop it further, along with improvements in lnd and Neutrino.”

The open-source Lightning Desktop App code is available on GitHub.

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Calvin Ayre: Bitcoin Cash “Closely Resembles the Bitcoin That Sparked the Entire Digital Currency Boom”

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Gambling news resource Calvin Ayre have openly declared war on Bitcoin declaring that it’s their opinion that Bitcoin Cash should be considered the true Bitcoin. For them, it seems that BCH holds more in common with Satoshi’s Nakamoto’s original white paper and is therefore deserving of the sort-after tag of “Bitcoin”. With the coming forks … Continue reading Calvin Ayre: Bitcoin Cash “Closely Resembles the Bitcoin That Sparked the Entire Digital Currency Boom”

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Bitcoin Price Watch; Back In The Game

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Bitcoin, it seems, is back in the game. The bitcoin price was a little subdued heading into the close of play yesterday as the market took a bit of a corrective turn and traded bitcoin down to the 5200 region early evening. Heading into this morning out of Europe, things picked up a bit and … Continue reading Bitcoin Price Watch; Back In The Game

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New MyMonero Phishing Site Shows up in Google Search Results

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Phishing attacks have proven to be rather lucrative in the world of cryptocurrency over the past few years. We have seen criminals rely on this method for quite some time now, often resulting in major financial losses for victims. It seems there is a n…

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Bitcoin Price Shakes Off Wednesday Downturn; CFTC Primer Not a Factor

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Goldman Sachs Warns Investors Crypto Is Not Gold

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In a recent address, Goldman Sachs has advised clients to beware of cryptocurrency. Instead, the investment banking juggernaut favours precious metals as part of a balanced portfolio: The use of precious metals is not a historical accident – they are still the best long-term store of value out of the known elements. The note issued … Continue reading Goldman Sachs Warns Investors Crypto Is Not Gold

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What Is Solidified?

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TheMerkle Solidified Smart Contract AuditWhile smart contracts are widely considered to be the newest technology to keep an eye on, they are not without their flaws. Indeed, there is a growing demand for auditing of smart contracts. Solidified aims to provide such a service to the cryptocurrency community. Having more platforms focusing on smart contract auditing will elevate the technology to a whole new level. Solidified Crowdsources Smart Contract Review There are plenty of people in the world who can look at a smart contract and uncover any flaws that may be present. Some people even specialize in this type of activity, which makes them quite valuable to the

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Play2Live – The World’s First Decentralized Streaming Platform for Gamers and ESports Fans

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