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What do you know about Smart Credentials, J-Coin & c-lightning

What do you know about Smart Credentials, J-Coin & c-lightning

It was only a couple of weeks ago when we saw the JPMCoin being launched by the biggest U.S bank in the quest for moving to a digitized economy. Other central banks & financial institutions around the world are in various stages of testing digital currencies. One of the most noteworthy projects in this regard is the J-Coin (originally labelled MUFG Coin) which was announced by a consortium of Japanese banks last September to be launched in time for the 2020 Tokyo Olympics. Japan’s financial giant Mizuho Financial Group (MUFG) partnering with around 60 domestic financial institutions claiming to have around 56 million users will have digital wallets for the associated J-Coin. Following are some of the features of the J-Coin:

Sufficed to say J-Coin has hit the ground running & it is replicating the moves to cashless societies as we have seen in some of the Nordic countries as well — most prominently Sweden. The backing of the major financial institutions has given it the base it needed.

c-lightning 0.7

Blockstream is one of the blockchain powerhouse companies offering an impressive line of products & services including Liquid sidechain, Blocksteam Store, Cryptocurrency data feed, Block explorer & Blockstream satellite. The blockstream store acts as an e-commerce outlet for bitcoin retail style transactions where you can buy merchandise in the cryptocurrency using the Lightning network (LN). Blockstream just released the upgrade of its bitcoin scalability solution c-lightning 0.7 — eight months after the release of its previous beta, improving on its shortcomings. c-lightning is one of the implementations of the Lightning network apart from Eclair and Ind. The implementation differs from the main protocol in the sense that is more modular & extensible. Here are some of the new features added to the new version:

Plugins This core feature of the latest version allows developers to construct their own applications in any programming language to extend the functionality of the Lightning network, making it more customizable & extensible.

Routeboost allows send and receive payments over non-public blockchains letting the privacy based nodes keep their secrecy.

Improved Funds management offering better control over the funding & withdrawing coins from channels and nodes.

Better security — Enabled by default function option_data_loss_protect function offers heightened security against data losses

Better documentation Revamped documentation automatically gets generated at lightning.readthedocs.io

For complete details on the upgrade features Click here. Blockstream has reiterated the fact that this is just the beginning of bigger & better things to come in the future. Only recently Blockstream CEO Adam Back, as a strong proponent of blockchain technology, had also participated in the Lightning Torch Bitcoin relay initiative by passing it to PayPal COO Reid Hoffman to spread the word about Bitcoin micropayment solution. More good things to come… stay tuned!

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Published at Wed, 06 Mar 2019 06:07:52 +0000

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