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The Lightning Network has been integrated into Cash App, a peer-to-peer payment service operated by Block, previously Square Inc. The feature allows transactions between parties that aren’t connected to the blockchain network. It was created to address the scalability issues with the flagship cryptocurrency. Bitcoin Lightning Important For Speedy Transactions Block (previously Square), a fintech firm co-founded by former Twitter CEO Jack Dorsey, owns Cash App. The news of the BTC L2 integration was announced as a notification on the official Cash App app, which Crypto Twitter picked up: The news are real! @CashApp added #Bitcoin Lightning ⚡️Network 🚀 pic.twitter.com/zbbdqcx0dC — Yegor Petrov 🔑⚡️ (@yeg0rpetrov) January 11, 2022 With a throughput of five transactions per second (TPS) and an average transaction price of $1.79, Bitcoin falls far short of the mark in terms of payments. $1.79 is a bargain compared to the highs of April 2021, when transactions cost an average of $62.78. Nonetheless, any transaction costing more than a few cents is impracticable as a widely accepted payment method. With its layer-2 solution, the Lightning Network provides tremendous scalability and cheap transaction costs. It operates by diverting transactions from the main chain and placing them into peer-to-peer “payment channels” between two parties, such as a buyer and a coffee shop. Once the channel is created, it can handle an endless number of transactions in real-time. The payer must first lock Bitcoin into the network to open a payment channel. After the recipient has been locked, they can invoice amounts based on the cost of the items and services sold. Fees are a mix of routing fees for sending payment information between Lightning Nodes and Bitcoin transaction fees for opening and closing channels. These, however, are still far less than direct main chain transactions. In November 2021, the Lightning Network’s total USD value locked (TVL) peaked at $216 million. Since that time, the TVL has reduced. TVL locked in the lightning network. Source: DeFiPulse Block CEO Jack Dorsey, who was previously the CEO of Twitter, has long advocated for the tool’s inclusion. “It’s not a ‘if,’ it’s more of a ‘when,’” he told podcaster Stephan Livera in 2019 that they would combine the scaling technology with payments provider Block’s mobile app. “We don’t think it stops at [bitcoin] buying and selling,” he remarked. Steve Moser, editor-in-chief of TheTapeDrive and a contributor to MacRumors, tweeted in November that Cash App “is working on Lightning network integration.” Moser said he discovered proof that Cash App was preparing to implement the additional features in December. Square’s Cash app is working on Lightning network integration. $SQ #Bitcoin #cashapp #LightningNetwork pic.twitter.com/AzMIfU2xex — Steve Moser (@SteveMoser) November 15, 2021 According to the most recent data from Business of Apps, Cash App had over 36 million users in the United States and the United Kingdom. BTC/USD trades below $%k. Source: TradingView Related article | Number Of Bitcoin Lightning Network Nodes Jumps 23% In Three Months Cash App Is Not The Only One Adding The Feature Belo App, based in Argentina, said on Monday that it has partnered with infrastructure provider OpenNode to enable Lightning Network access to its users. Julie Landrum, OpenNode’s Head of Growth, stated that the deal allows millions of people in Latin America to conduct quick Bitcoin transactions. Last month, ConsenSys, the Ethereum blockchain software startup, announced a solution that makes blockchain technology scalable on the Ethereum Mainnet or for private use, in conjunction with Mastercard. Related article | Lightning Speed: Taproot And The Lightning Network, A Match Made In Heaven Featured image from The Block, chart from TradingView.com, and DeFiPulse

when I see it will not go through on a nft drop. Should I cancel the transaction or wait to let it fail. What is cheaper? submitted by /u/Acrobatic_Pool9595 [link] [comments]

3 key Bitcoin price indicators suggest that the $40,000 level will hold as support throughout 2022.

Is it alrdy known what hardware requirements a beacon node has because so far I can only find info about the full nodes Hardware requirement? submitted by /u/Bigjukes_inc [link] [comments]

Crypto leverage has been high across some particular digital assets in the space. Global open Interest in the space still sits at a reasonable point currently, but some assets boast significantly higher open interest to market cap ratios than others. Thus, this report will be examining the leverage for these assets to see which ones carry elevated leverage. Altcoins Lead In Leverage Bitcoin and ethereum no doubt still command the largest share of the global crypto open interest but when it comes to the percentage of their market cap which their open interest commands, it falls short when compared to other digital assets in the space. Related Reading | Cardano Foundation Completes Funding To Plant 1 Million Trees A good number of these altcoins have found popularity in recent months, spending less time in the spotlight than their beloved counterparts bitcoin and ethereum. However, these digital assets have shown a far higher open interest to market cap ratio than bitcoin and ethereum. For perspective, the open interest to market cap ratio for crypto coins such as bitcoin and ethereum sit at 1.97% and 2.19% respectively. Each of these assets has an open interest at $15.5 billion and $8 billion. Other cryptocurrencies with newfound fame boast of a much higher ratio despite only boasting a small percentage of the global open interest in the crypto space. Altcoins lead open interest to market cap ratio | Source: Arcane Research The highest of these is SUSHI, which leads the charge with a whopping 10.09% open interest to market cap ratio. The relatively new cryptocurrency leads the second-highest by almost 1.5%. YFI placed second at 8.59%, with CRV and EOS at third and fourth position with 8.30% and 5.95% respectively. Metaverse Crypto Coins On The Come-Up Metaverse Crypto coins had an incredible come-up in the last quarter of 2021. The boom caused by Facebook’s announcement that it was rebranding to Meta has continued on into the new year, placing the top metaverse tokens in the list for cryptocurrencies with the most elevated leverage. Related Reading | ARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction Of the 16 coins featured in an Arcane Research report showing elevated leverage in some of the most popular altcoins, four metaverse tokens made the list. SAND, MANA, AXS, and GALA all had an open interest to market cap ratio at 3.29% and higher. AXS led the pack with a 4.44% ratio, showing the highest and MANA with the lowest. Both of these are indicative of traders using both MANA and AXS to hedge their metaverse exposure. Layer 1 tokens were not left out of the action though as both FTM and Near recorded open interest to market cap ratios higher than that of the large cap coins. FTM’s ratio sat at 4.02%, while Near recorded a 3.15% OI to market cap ratio. Crypto total market recovers above $2 trillion | Source: Crypto Total Market Cap on TradingView.com Featured image from Crypto News, charts from Arcane Research and TradingView.com

The U.S. Federal Trade Commission (FTC) has warned consumers about scams involving cryptocurrency ATMs. “There’s a new spin on scammers asking people to pay with cryptocurrency,” the FTC described. FTC’s Warning About Scams Involving Cryptocurrency ATMs The U.S. Federal Trade Commission (FTC) issued a scam alert involving cryptocurrency ATMs Monday. The consumer notice, posted by […]

The company confirmed its bet on the crypto space with its latest investment partners.

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