This morning of January 25th 2020, Charlie Lee creator of Litecoin raised a very interesting proposition on Twitter. One that evolves around funding. Talking about money is often a polemic topic and as expected he immediately received a lot of feedback from the community. And that's probably what he was hoping for.
On the Tweet he opens up a topic that focuses on Litecoin further development, but most importantly how to acquire the funds that will guarantee sustainability of Litecoin Foundation and its project creators. Projects and proposals that are aimed to enhance and create new protocols, side chains and solutions that are often fit for Litecoin and Bitcoin. In addition, similar to other cryptocurrency projects Litecoin needs to enhance its marketing strategies in a competitive fashion to boost the mass adoption movement around the world. In order to that the Foundation needs funding, money that will be used as Charlie suggested, for public good.
Let's take a peak i…
The Lightning Network simplified. What I learned from guest speaker Ecurrencyhodler.
It was truly a pleasure to be part of the first Litecoin (LTC) meet-up in Orange County. The event organized by the Litecoin team of west coast volunteers showcased a fantastic presentation by guest speaker, Andrew Yang also known as @Ecurrencyhodler in the crypto community. Author of the book “Understanding Litecoin” and COO of BlockFuse, Andrew focused his presentation on the Lightning Network Technology. He explained several points on how the Lightning Network can help solve the scalability problem of both Bitcoin and Litecoin. A special thank you to my husband for lending us his work space, Travertine Market, as a location for the meeting and allowing us to make this event Free for everyone.
The Lightning Network is a very promising and exciting technology for both the Bitcoin and Litecoin community. In this article I will point out the reasons why. At the same time the Lightning Network has also been criticized by the Bitcoin Cash community. Let me address this now.
The Bitcoin Cash community, last year opted to split from the original Bitcoin blockchain and adopted a block increase and a new coin named Bitcoin Cash. They stated that block increase solved the scalability problem, and it does temporarily, however this solution proves to be unsustainable. In his presentation Andrew points out that over time, a block increase can lead to a large blockchain size, which will make it unprofitable for a regular person to run a node on their computer. Consequently, jeopardizing the main roots of decentralization.
On the other hand, The Lightning Network just came out with a very smart solution for this problem, and one that does not need to change the core values that were set by Satoshi Nakamoto. It is a solution that runs in parallel aiding the network and enabling faster and more intricate types of payments. Payments thru the Lightning Network are run outside of the blockchain. A short-cut that saves us from waiting on 6 confirmations ( on average 15 mins for Litecoin and 1 hour for Bitcoin). And is enabled thru the use of channels.
What is the change ramifications that this technology can bring?
The implementation of the Lightning Network can and will bring two significant advantages. Faster processing as mentioned above and the prevention of network clogging.
With Lightning network the possibilities for Bitcoin and Litecoin use expands. One of them is of point of sale terminals. It is possible to complete a purchase without waiting for confirmation while still making the transaction secure. But how if the 6 confirmations haven’t been completed? Well thru a channel that is open, which in a sense escrows the funds for s short period of time, until the transaction is finalized. In addition, after waiting on the recommended 6 confirmations many merchants rely onto have reasonably high assurance of payment finality for on-chain transactions.
Unclogging of the Network is also a huge benefit brought by the Lightening Network technology. With the lightning network one can now send multiple payments in one transaction, eliminating fees incurred in each transaction and simplifying payment processing.
Many other advantages have been highlighted as well, as the protocol facilitates accounting processes and enables a creation of accounts and payment relationships that can be maintained over time. Well through an open payment channel that enables transactions off-chain and only settles on the blockchain once the channel is closed.
Truly fantastic applications that will certainly be build using this incredible resource. If you would like to know all the technical aspects of the Lightning Newtwork make sure to listen to E-currencyholder podcast of this event, coming out Wednesday Nov 14th. It was truly enlightening.
I am also posting below a video of Elizabeth Stark, (CEO of Lightning Labs and Lead Developer) of this project that I recorded during the Litecoin Summit. It is the day she announced the completion of this wonderful project that truly has the power to take this whole “Crypto Thing” to a new level. Watch part of her speech and feel her excitement!
This morning of January 25th 2020, Charlie Lee creator of Litecoin raised a very interesting proposition on Twitter. One that evolves around funding. Talking about money is often a polemic topic and as expected he immediately received a lot of feedback from the community. And that's probably what he was hoping for.
On the Tweet he opens up a topic that focuses on Litecoin further development, but most importantly how to acquire the funds that will guarantee sustainability of Litecoin Foundation and its project creators. Projects and proposals that are aimed to enhance and create new protocols, side chains and solutions that are often fit for Litecoin and Bitcoin. In addition, similar to other cryptocurrency projects Litecoin needs to enhance its marketing strategies in a competitive fashion to boost the mass adoption movement around the world. In order to that the Foundation needs funding, money that will be used as Charlie suggested, for public good.
A moeda xx, que será amplamente distribuída pela comunidade global coletiva xx, incentivará os nós da rede xx que executam a moeda digital Praxxis e o software de proteção à privacidade da Elixxir. Original In English Below
CINGAPURA, 14 de novembro de 2019 - O pioneiro da criptografia David Chaum anunciou hoje a moeda xx, uma moeda digital que oferecerá suporte a mensagens descentralizadas, pagamentos e dApps na rede xx. Os detalhes técnicos e os planos de distribuição da xx coin serão revelados na próxima semana em um evento comemorativo no National Research Institute for Mathematics and Computer Science (Instituto Nacional de Pesquisa de Matemática e Ciência da Computação), a casa do grupo de pesquisa de criptografia original de Chaum em Amsterdã.
"A rede xx coin e xx atenderá aos usuários de smartphones e desenvolvedores de dApp, aproveitando o anonimato e a privacidade de destruição de metadados do Elixxir e a segurança, velocidade e escalabilidade do Praxxis", disse Chaum…
It is truly a blessing to be back in my home country of Brazil and enjoy everything I always did. Here I am always amazed by the diversity of wildlife and the beauty of its nature. But more fascinating than that is the resilience of our people.
The majority of people in Brazil are poor but truly happy to be alive despite their difficulty to make ends meet. Income inequality here is quite high and with that comes a series of social and economic problems. The Brazilian workforce, from what I see, is constantly wishing and working for a better life without much success, but despite the troubles they celebrate.
In my opinion the lack of financial education, resources and opportunity are one of the causes of this problem. Banking in Brazil is quite expensive, complicated and unavailable to so many.
I see crypto currencies as a solution to this problem. With decentralized cryptocurrencies such as Bitcoin and Litecoin one can be your own bank. Resources are already available in Brazil, since…
Hi everyone, if you haven't downloaded and installed the latest version of the Brave browser I recommend you do to so. But before doing so make sure is to install the correct version of the app if you are interested in earning some Basic Attention Tokens (BAT) for browsing on desktop and smartphone. Because I did not know this small detail I downloaded an outdated version and the ads were not popping up. A while back I finally learned I had a problem and this small simple step might be a solution for many.
First download the latest version of the Brave Browser here (referral link)
Once downloaded run the installer located in your downloads folder. Once the program is installed you can open it and start browsing. Click on the Brave Browser Application and once it loads you should land on the page below or similar. On this page you can see the number of trackers and ads blocked as well as an estimated time saved browsing.
To access and activate your Bats Reward Ads note the BAT symbo…
Thanksgiving is just around the corner. And with it comes the Black Friday and Cyber Monday Shopping frenzy. I personally do not enjoy the rush and do most of my shopping online. But I do enjoy the discounts and the chance to grab few crypto gadgets at a discounted rate.
I have been on the look out for great deals, taking a notes and will be sharing the deals I find here in the blog. I am on the look out for anything related to Crypto so if you do have a fun product and a great Black Friday Promotion going on your site, leave a comment and I will make sure to feature your goodies on my next post.
Today I am featuring Hardware Wallets!
Ledger is offering 30% off site-wide from November 25th to December 2nd 2019. A great chance to enjoy great savings on all products offered by Ledger. Deal applies to (Ledger Nano S, Ledger Nano X and Ledger Back Up Pack). First come first serve.
KeepKey is also promising an amazing Black Friday deal offering its Hardware Wallet for a mere $5.00 for a per…
Image by Canva This week, I just started to notice some crypto companies resembling banks. While most of the crypto community prefers to "take control of their money" and "hold their own key" it is fair to say that a large percentage of holders or better, hodlers are looking for ways to yield some returns on their investments. In addition, many people just arriving in the Crypto realm are more inclined to use custodial services. With that need in mind, few crypto companies have emerged and few exchanges are adjusting their business plans to fill this increasing demand. To be competitive in addition to holding the crypto, these services are now offering interest on crypto deposits.
Recently Coinbase announced that it will start to offer return on certain coins. The first announcement was the stable coin USD Coin. According to Coinbase recent tweet: "All eligible US customers will earn 1.25% APY rewards on every USD Coin held on Coinbase." An interesting m…
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