Paxful Integrates The Bitcoin Lightning Network

Paxful Integrates The Bitcoin Lightning Network
фото показано с : bitcoinmagazine.com

2021-9-15 21:01

The peer-to-peer bitcoin trading platform will now enable its over seven million users to cheaply and quickly transact BTC.

Peer-to-peer bitcoin exchange Paxful announced that its platform has fully integrated the Lightning Network, Bitcoin's second-layer scaling solution. The firm, one of the leading peer-to-peer trading platforms worldwide, will now allow its more than seven million users to transact bitcoin across the globe more quickly and cheaply.

"Bitcoin is hands down the best financial option for the people who really drive economies forward," said Ray Youssef, Paxful's co-founder and CEO, in the announcement. "But in order for it to succeed and usher in global adoption, we need to overcome the issue of scale. The industry's greatest chance of Bitcoin scalability is through Lightning, which makes micropayments exceedingly cheaper and faster."

Lightning enables cheap and fast bitcoin transactions by leveraging smart contracts to abstract small and frequent payments away from the Bitcoin network base layer. That abstraction occurs in the form of payment channels, in which users connect by jointly creating 2-of-2 multisig addresses, which they can then use indefinitely to transfer funds to one another. But even though only transactions that either open or close a Lightning channel get recorded on the Bitcoin blockchain, all Lightning transactions abide by the Bitcoin protocol rules.

Indeed, Lightning has already been empowering people worldwide to enjoy true financial freedom and sovereignty. Since bitcoin became an official legal tender in El Salvador on September 7, people have been able to buy coffee, breakfast, and lunch there with BTC through the Lightning Network. The layer-2 solution empowers Bitcoin to fulfill its potential and become a widely accepted medium for transacting value.

"At its core, Bitcoin was envisioned as a means of exchange," said Artur Schaback, the peer-to-peer platform's COO and co-founder, per the announcement. "Paxful's seven million users now have another option to transact micropayments — one that is cheaper and faster than the traditional Bitcoin network."

Paxful's Lightning onboarding was assisted by Lightning Labs, an open-source software company dedicated to the Lightning Network. Their CEO and co-founder, Elizabeth Stark, said the integration "is a huge step forward" in bringing bitcoin to billions of people. Stark later added that her company is "excited to onboard millions of Paxful users who can now send instant, global, low fee transactions with Lightning."

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 96818.92 (+0.03%)
Объем 24H $99.627b
Изменеия 24h: 2.27 %, 7d: 9.74 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1914.838b Rank 1
Цена в час новости $ 48261.73 (100.61%)

bitcoin users million cheaply seven quickly btc

bitcoin users → Результатов: 126


Фото:

Here’s Why the PayPal News May Signal a Global Bitcoin “Hash War” is Looming

The crypto sphere was lit ablaze by news that PayPal and Venmo are both looking to roll out direct crypto trading capabilities to their users This comes as their competitor, CashApp, sees massive revenue inflows from its Bitcoin sales This is certainly a sign of growing retail adoption, and will place Bitcoin in front of the platform’s 325 million users scattered across the globe One prominent Bitcoin advocate is now noting that this marks the […]

2020-6-24 02:00


Фото:

Behind the scenes: Electrum hackers steal $4M with Bitcoin phishing attacks

Electrum Bitcoin wallet users have lost 771 BTC (approximately $4 million) since late December 2018, in an ongoing series of targeted phishing attacks. According to research released by Malwarebytes Labs, fraudsters were able to trick unsuspecting users into downloading a malicious version of the wallet by exploiting a weakness in the software.

2019-4-16 18:02


Фото:

Mt. Gox Gets Closer to Returning Over 141,000 Bitcoin To Its Users

Mt. Gox is in possession of over 141,000 Bitcoin and more than 142,000 Bitcoin Cash. Does this mean that users will finally get their funds back five years later? Mt. Gox Hodling Funds Worth Over Half a Billion Dollars Ever since the industry was rocked by the collapse of its biggest cryptocurrency exchange in 2014, it’s been a long and painful waiting period for users out of pocket.

2019-3-21 13:30


Bitcoin Wallet Samourai Warns Users of “Dusting Attack”

On October 25, 2018, the privacy-centric cryptocurrency wallet Samourai warned users via Twitter of a new type of tracking tactic called a “dusting attack. ” Biting the Dust According to tweets, the attack is an attempt to compromise the security and privacy of Samourai users by using “coin dust” to deanonymize users and linking their transactional inputs together.

2018-10-27 18:00


Фото:

Poloniex Revised Terms of Use, Shutters Services in Several Countries

With a revision to the popular exchange’s terms of use, users from a handful of jurisdictions will have their access to Poloniex shuttered. According to an October 18, 2018, update, “the websites and the services offered by Poloniex (as defined below) are NOT addressed to persons who have their registered office or place of residence in China, Germany, Pakistan, the U.

2018-10-26 22:46


Фото:

Blockchain Reveals New ‘Lockbox’ Hardware Wallet Made By Ledger

Cryptocurrency data and wallet provider Blockchain (formerly Blockchain. info) has announced it will offer users a dedicated hardware wallet in a new partnership with Ledger. A Blockchain-Only Hardware Wallet In a press release October 25, Blockchain said it was working with the French hardware wallet manufacturer to produce a device “exclusively compatible” with its online wallets.

2018-10-25 15:00