📌 MicroStrategy has announced the world's first "#Lightning ⚡️ for Corporations" event which helps companies to adopt #Bitcoin payments on their websites and products 🔥

#crypto2023 #dyor

⚡#Africans can now receive instant, zero-fee remittances in local #currency from the EU and the UK through the #Bitcoin   #Lightning

Can a Taproot Wizards Contributor Block Ordinals in Bitcoin? 🚫

A Taproot Wizards contributor proposed a script to #block Ordinals inscriptions in Bitcoin, igniting a debate.

Rijndael, the contributor, offered a solution via a script to reject #Ordinals transactions. Critics like Glassnode's analyst doubt its success, calling it a minority concern.

The software, claimed to nullify Ordinals, might cause node malfunction. The debate resurfaced when OCEAN began rejecting Ordinals, citing risks.

Proponents argue stable mempool congestion benefits #Lightning , while unpredictability could harm it. Bitcoin Core's upcoming update might address Ordinals, suggesting potential solutions like higher fees for Ordinals users.

#Binance
#crypto2023

🚨🚨🚨 One of the top #Bitcoin    developers recently discovered a massive security risk in the #Lightning Network, which triggered him to announce his departure from the project.

He claims theres intentional backdoors in the code that allow attackers to easily get full control of the network.

#Relai , a European Bitcoin wallet with integrated broker services, is adding #Lightning functionality. Initially, it's a closed beta program and will become publicly accessible by the end of 2023. In early 2024, users will be able to make direct Lightning purchases through the wallet. This integration is made possible through a partnership with Breez and Blockstream's Greenlight service, ensuring a self-custodial experience and user control over funds. The collaboration aims to advance #bitcoin adoption and make Lightning more accessible. It provides European Bitcoin users with a comprehensive solution while maintaining self-custody principles. The integration is expected to exit beta soon.

#Lightning Labs CEO Elizabeth Stark Announces #Stablecoins Are Coming to the Lightning Network

#Lightning

Is Lightning Network Security at Risk? ⚠️

Antoine Riard, a security researcher and developer, is leaving the #Lightning Network's development due to serious security issues.

He believes the Bitcoin community faces a daunting challenge as a new type of attack, known as a #replacement cycling attack, threatens Lightning Network. This attack exploits inconsistencies in individual mempools and puts the network in a precarious situation.

Riard suggests that addressing this issue may require changes to the underlying #bitcoin network, which would necessitate community consensus.

While the Lightning Network has gained popularity, with a total value locked of $159.5 million, it still faces criticisms and challenges. Riard is shifting his focus to Bitcoin core development but warns about forthcoming challenges for the broader cryptocurrency ecosystem.

#Binance
#crypto2023

#Binance acknowledged users who confirmed the existence of their new Lightning nodes in a tweet. Binance emphasised that more technical work needs to be done before the #Lightning integration can be completely implemented, but vowed to keep everyone updated. #global

#bitcoindominance

Due to Apple's stringent payment policies, Damus, a client app for #Nostr, a #decentralised social networking platform supported by Twitter co-founder Jack Dorsey, is scheduled to be taken down from the App Store.

Apple has a long-standing rule that developers can't charge for additional in-app content unless Apple processes the sale and keeps 30% of the revenue. The tipping function of the Damus app, which utilises Bitcoin's #Lightning Network, has to be changed in order to get around a prohibition. The team was forced to limit tipping to profiles and remove the tip option from posts.

According to a 1 February 2023 TechCrunch post, "Twitter co-founder #JackDorsey gave nearly $245,000 in bitcoin (at the time, approximately 14 $BTC ) to support the creation of an open and social networking protocol called Nostr.

#Lightning Labs introduced the #mainnet alpha release of the #Taproot Assets daemon on October 18, 2023. This developer tool allows for the creation and management of #stablecoins and other assets on the #Bitcoin #blockchain , enhancing Bitcoin's capabilities while preserving its core values. The goal is to make Bitcoin a global routing network for financial transactions, especially in emerging markets. Developers now have access to Taproot Assets v0.3, offering issuance and redemption APIs, asynchronous receive functionality, and more. This release paves the way for a multi-asset Lightning Network. The developer community has shown enthusiasm for building applications with Taproot Assets, expanding Bitcoin's potential uses.

Elizabeth Stark, CEO of Lightning Labs, spoke at the FT Live's Crypto and Digital Assets Summit in London, discussing the latest developments from the company.

She also gave a clear explanation of Bitcoin and the Lightning Network to a audience of traditional finance professionals.

#LightningLabs #Lightning #MicroStrategy #buythedip #ETHETFS

Bitfinex introduces Lightning Network support in partnership with Synonym

Renowned crypto exchange Bitfinex has announced a partnership with Synonym to introduce a new feature that allows customers to use the Lightning Network (LN) for instant deposits, withdrawals and payments.

The Lightning Channel feature is offered through the Blocktank platform operated by Synonym, a subsidiary of Tether Holdings Limited.

Thanks to this, Bitfinex clients using Lightning nodes will be able to connect to the Blocktank node directly on the crypto exchange.

Previously, customers had to go through a complex process that involved withdrawing their Bitfinex balance to their node, navigating complex metrics, selecting a node, and manually opening a channel. An alternative option is to find external Lightning service providers or listings on liquidity marketplaces and purchase channels from them using your own wallet.

The crypto exchange's new initiative has addressed these issues and given users access to significant bandwidth.
#Bitfinex #LightningNetwork #Lightning

#Binance, a leading international #cryptocurrency exchange, is currently formally developing an integration for #Lightning Network-based Bitcoin (BTC) deposits and withdrawals. Built on top of #Bitcoin, the Lightning Network is a layer-2 scaling solution that seeks to make transactions for BTC quick and affordable.

What are the advantages of using the Bitcoin Lightning Network?

1. By enabling most transactions to be processed off-chain, the Bitcoin Lightning Network alleviates congestion on the Bitcoin blockchain, allowing for a higher number of transactions per second.

2. Bitcoin Lightning Network transactions are near-instantaneous as they don't require confirmation by miners. Payments can be settled within seconds or even milliseconds.

3. Transactions on the Bitcoin Lightning Network typically have significantly lower fees compared to Bitcoin network transactions. This makes microtransactions economically viable.

4. The Bitcoin Lightning Network doesn't reveal information about individual transactions on the blockchain, which could protect users’ privacy.

#BitcoinLightningNetwork #Binanceturns6 #LightningNetwork #Lightning

Bitcoin Core developer Antoine Riard left the Lightning Network team, citing a critical network vulnerability.
According to him, the discovered new class of cyclic spoofing attacks puts the protocol in a “dangerous position,” and the possible loss of funds can only be prevented by making changes at the base level of Bitcoin, at least through a soft fork.
Rear believes that this situation poses a “difficult dilemma” for the community and noted that the LN team has taken certain measures to mitigate the risks of vulnerability. But this will not stop “advanced” attackers.
#Lightning