Bitcoin software firm Lightning Labs has secured a large funding round enabling it to further develop the Lightning Network for faster, cheaper Bitcoin and stablecoin transactions. The $70 million Series B funding round was led by Valor Equity Partners, with participation from Baillie Gifford, Goldcrest Capital, and several other angel investors. Lightning Labs builds additional features and software for the Lightning Network (LN), Bitcoin’s layer-two transaction solution. The funding will be channeled into a new protocol it has developed called Taro, which will enable stablecoins to be transferred using the LN, according to reports. Lightning Labs will not issue stablecoins, …

There is “grassroots evidence” that “America is adopting Bitcoin,” according to Clay Graham, founder of Rapaygo and a Bitcoin Lightning Network (LN) enthusiast. At a Bitcoin Lightning festival held in Portland, United States over the weekend, the Bitcoin LN clocked more than $200 (four million Sats) in just three hours. Hailed as “Puddle Town on Lightning Rails,” Portland’s Bitcoin Party was a space where “vendors, food carts, artists all accept Bitcoin.” Graham told Cointelegraph that there was also a “food cart pod” that acted as a “business attraction destination to Bitcoin fans who want a Bitcoin beach type experience.” Fiat …

Major American cryptocurrency exchange Kraken reportedly started implementing the Bitcoin (BTC) Lightning Network for users a bit later than the firm originally planned. Bitcoin maximalist Mr.Hodl took to Twitter on Wednesday to report that Kraken has implemented the Lightning Network. He attached a screenshot of the supposed new Kraken withdrawal process allowing users to complete a withdrawal request from a Lightning wallet to receive BTC from their accounts. “The Lightning network runs on top of the Bitcoin blockchain to enable more uses of Bitcoin,” Kraken’s withdrawal notice on the screenshot reads. It's official! @krakenfx has implemented the Lightning Network. Congrats …

There’s a poetic justice to scammers getting beat at their own game. A cryptocurrency scammer met their match when trying to trick Bitcoiner, Felix Crisan into sending them Tether (USDT). The scammer tried to impersonate John Carvalho, the CEO of Synonym, a Bitcoiner Cointelegraph regularly cites. The scammer, who we will call fake John from now on, wanted Crisan to send USDT, but Crisan–who’s been learning and getting involved with Bitcoin (BTC) for almost a decade–had other ideas: Today I've convinced a scammer to install a Lightning Network wallet. BTW @BitcoinErrorLog there's someone impersonating you on Telegram pic.twitter.com/Qd0I9pAney — felix …

Pubinno, a San Francisco-based technology firm that creates the "Internet of Beer" with artificial intelligence, robotics and cloud computing platforms, has now integrated Bitcoin (BTC) payment infrastructure into its system. Pubinno accepted BTC payments using the Lightning network at the #LightningHackdaysIST held from Feb. 25 to 27. By using their Lightning Network-supporting wallets, participants could receive their own beer poured just seconds after completing the transaction by scanning a QR code. According to Pubinno's Creative Director Volkan Dogan, the Smart Tap system was created in 2016 and employs blockchain technology to link the future of draft beer with the future …

Got some Satoshi to send or Bitcoin (BTC) wallets to reorganize? It’s increasingly cheap to do so. According to an Arcane Research report, Bitcoin “transaction fees have stayed low since July 2021, showing no signs of rising.” There was, however, a small bump in transaction fees last week. Shown as a small jump at the tail end of the graph, clustering of the mempool pushed “up the average transaction fees per day over the past seven days to $691,000, a doubling since last Tuesday.” Nonetheless, the doubling in transaction fees is insignificant: transaction fees remained in a low range. Miners …

Crypto-friendly digital payments tech firm Block, Inc. (formerly known as Square) posted $1.18 billion worth of gross profit in Q4, representing a growth of 47% over the same period in 2020. The firm led by Bitcoin maxi Jack Dorsey has multiple business arms including Cash App, Square, and the freshly acquired buy now pay later (BNPL) firm Afterpay after the $29 billion deal officially closed at the end of last month. Block’s 2021 Q4 report was posted on Feb. 24, and the firm revealed significant gross profit increases across Cash App and Square, with each firm generating $518 million and …

The Bitcoin (BTC) network has recorded a new hash rate all-time high of 248.11M TH/s as of Feb. 12, 2022, further securing the decentralized ecosystem through a growing network of global BTC miners. The hash rate correlates to the computing power required by a miner’s computer equipment to confirm a transaction. The recent spike in BTC’s network hash rate ensures further security against attacks by deterring bad actors from confirming fraudulent transactions. As evidenced by the above screenshot, the network hash rate jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in just one day. Moreover, the Bitcoin network’s …

Following an exponential climb in capacity over 2022, the Bitcoin (BTC) Lightning Network made a lackluster start to the new year. According to a report by Arcane Research, growth in the Lightning Network capacity, or the number of BTC locked up in channels, has stuttered. The Lightning Network surged from 1,000 to 3,000 BTC in just 8 months in 2021, striking the 3,000 BTC mark in mid-October. While the network continues to strike all-time highs, growth grinds down. The total BTC locked in the network is peaking just shy of the 3,500 BTC mark, sparking debate and discussion on social …

Mobile payment service Cash App revealed that Lightning Network can now be used to transfer Bitcoin (BTC) through its app. With the new feature, its users can send their BTC to any Lightning or on-chain BTC address. Lightning Network is now available on Cash App. It's the fastest, free way to pay anyone in bitcoin. Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6 — Cash App (@CashApp) February 7, 2022 A few weeks ago, the company announced through a notification within the app that it has integrated the Lightning Network. Now, …

Bitcoin’s Lightning Network is a layer-2 solution providing scalability to the Bitcoin network itself. It offers faster and cheaper transactions while providing users with a way to buy simple products and services such as coffee with their digital assets. The Lightning Network is growing at a rapid pace, one group that is contributing to the expansion of Bitcoin’s Lightning Network is LQwD FinTech Corp (TSXV: LQWD, OTC: LQWDF). Building the Lightning Network LQwD FinTech Corp, a Lightning Network-centric technology company, has recently launched its Lightning Network platform after revealing its plans to provide an enterprise-grade infrastructure and toolset for Lightning …

Strike’s digital wallet has become the fifth most popular finance app in Argentina within a week of its launch. The firm, led by hoodie-wearing CEO Jack Mallers, rolled out its crypto payment services for the Argentinian market on Jan 12. Strike is famed for enabling Bitcoin (BTC) payments via the Lightning network, particularly in El Salvador. However, according to local media and user reports, the firm’s app in Argentina reportedly currently only supports the use of Tether’s stable coin USDT for transfers via Lightning. Users are able to purchase Bitcoin via the app though, and send it to a third …