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First Lightning Network Wallet App Now Available via Google Play

First lightning network wallet app now available via google play

First Lightning Network Wallet App Now Available via Google Play

First lightning network wallet app now available via google play

The Lightning Network’s first mobile app for bitcoin’s mainnet isnow available through Google Play. Known as the Eclair Wallet, the app was released on April 4, 2018, via French technology startup ACINQ, and is being offered specifically to Android users.

Devices employing software version 5.0 or higher can send Lightning payments, which require significantly lower fees than the standard bitcoin network. Transactions also happen much faster compared to on-chain confirmations.

Describing the new product onGitHub, ACINQ wrote:

“The Eclair Wallet is a next-generation, Lightning-ready bitcoin wallet. It can be used as a regular bitcoin wallet, and can also connect to the Lightning Network for cheap and instant payments. This software is based upon eclair [another Lightning implementation], and follows the Lightning Network standard.”

The product’s release marks the latest in a long list of items that have come by way of the Lightning Network over the past several weeks. In March, for example, the protocol’s “first Lightning mainnet release,”known as Ind 0.4-beta, went live to widespread acclaim. Several other new tools have since entered the market by way of private developers, and an upcoming beta known as c-lightning is expected to beavailable relatively soon.

The Lightning Network on bitcoin is made possible in part due to Segregated Witness, the protocol upgrade that activated on bitcoin last summer. The app’s popularity has also inspired users to request an iOS edition of the product.

The wallet does, however,come with certain limitations. According to a description written by ACINQ, “Lightning channels are outbound only: you can pay with LN but you cannot receive or forward payments with this wallet.” It further states that if users wish to enjoy the full LN experience, they are advised to run a full Eclair node.

The Lightning Network is described as a “peer-to-peer system” working as a “second-layer payment protocol” leveraging the security of bitcoin’s blockchain to process (micro)payments. The Network’s scalability should allow it to process millions to billions of transactions per second across the network.

Founded in 2014,ACINQ is based in Paris, and seeks to build “products and services for the bitcoin ecosystem.”

Published at Fri, 06 Apr 2018 20:31:19 +0000

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South Korean gaming giant Nexon acquires Korbit for $80 million, $150 million valuation

South Korea has had bitcoin fever in the past few weeks, and the fire just continues to be fueled. Top exchange Korbit has been acquired by gaming company giant Nexon for 91 billion Korean won.

The Growing South Korean Market

South Korea has been disrupting the charts when it comes to cryptocurrency trade volume, and the old money is noticing. Many companies in South Korea are hopping aboard the train, investing heavily in the nation’s crypto sector. Bithumb, a Korean exchange, is actually at the top of the charts right now in terms of total trade volume. With this increasing demand, more and more exchanges are popping up taking advantage of the increased interest.

Another Korean-based exchange known as Korbit is quickly climbing the ranks as well, recently joining the top 15 exchanges globally. While the company is still new and is a long way behind Bithumb, it is recording more trade volume on certain digital currencies. And some bigger corporations in the region are trying to get in early.

Nexon is a gaming company that was founded in the mid 1990’s and is a global leader in MMORPGs and other mobile games. At the beginning of the decade, they moved their corporate headquarters from Seoul to Tokyo, Japan, which also happens to be one of the first nations to declare bitcoin as legal tender.

Nexon Acquires Korbit

They purchased Korbit earlier this week for just around 91 billion Korean won, worth roughly $80 million USD. The details of the purchase is that Nexon bought 65% of Korbit’s shares and took over all managerial operations. Nexon commented on the agreement, saying they hope to diversify their business model, along with restating their confidence that blockchain technology will continue to grow and become more and more mainstream.

Do you think South Korea will continue to become a crypto-giant? Do you think this is the end of the money trail? Let us know in the comments below!

Pictures courtesy of  Pixabay and Wikimedia Commons.

The post South Korean gaming giant Nexon acquires Korbit for $80 million, $150 million valuation appeared first on Bitcoinist.com.

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