Sparkswap adds USD support to its Bitcoin Lightning Network exchange

When The Block last covered Sparkswap, the bitcoin startup had just raised a $3.5 million seed round to build a non-custodial cryptocurrency exchange on the Bitcoin Lightning Network using Atomic Swaps. Today, Sparkswap is announcing support for the U.S. dollar—enabling users to buy bitcoins directly from their Sparkswap Lightning wallet. “We’ve long wanted to support […]
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Sep 16, 2019, 1:00PM UTC

Security vulnerabilities found in Bitcoin's Lightning Network were exploited

As Bitcoin Lighting Network users await details regarding a security vulnerability found on the network late last month, developers are now warning that the vulnerability has been exploited. According to Olaoluwa Osuntokun, CTO at Lightning Labs, and ACINQ, a Lighting Network development firm, there are “confirmed instances of the vulnerability being exploited in the wild.” […]
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Sep 10, 2019, 5:10PM UTC

Ethereum DEX startup launches app store to be 'the homepage of the Lightning Network'

Blockchain startup Radar, best known for running a decentralized exchange (DEX) over ethereum, is expanding its influence in bitcoin and wants to “the homepage of the Lightning Network,” according to Radar CEO Alan Curtis.  The company launched on Tuesday an app store that collects all applications built on Lightning Network, the second layer of bitcoin […]
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Aug 27, 2019, 6:00AM UTC

Lightning Network nodes have claimed $24,000 in 'justice transactions' to deter bad actors, research shows

The Lightning Network implements a security measure called ‘justice transactions’ which removes funds from dishonest nodes. According to a recent report by BitMEX Research, the Lightning Network removed 2.22 bitcoin (~$23,900) connected to dishonest transactions. The report explains ‘justice transactions’ are designed so that “when a thief attempts to steal funds on the lightning network, […]
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Jul 15, 2019, 8:00PM UTC

Bitcoin startup Bitrefill raises $2 million in funding

Stockholm-based startup Bitrefill announced it has closed a late seed round of $2 million, led by Coin Ninja. The company wants to help people pay with their cryptocurrencies. It offers bitcoin gift cards and mobile refills; it is also building Lightning Network-based products and services. This year, the company released the Thor & Thor Turbo […]
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Jun 13, 2019, 4:00PM UTC

Are we looking at a new wave of crypto-tourism?

If you reside in one of the world’s few “crypto friendly” cities – namely New York or London – the idea of travelling miles for the thrill of spending your digital assets may seem a little strange. But not everyone has a coffee shop nearby with a “bitcoin welcome here” sign pegged outside like a […]
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Jun 11, 2019, 6:10PM UTC

Sparkswap raises $3.5M to build an exchange on the Bitcoin Lightning Network

It seems like every other week we hear reports of a major cryptocurrency exchange hack and the millions of dollars stolen from traders. Trey Griffith, founder of Sparkswap, has raised $3.5 million from investors including Initialized Capital, Pantera Capital, and Foundation Capital to change that. The idea? A non-custodial exchange built by leveraging the scaling […]
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Apr 8, 2019, 1:00PM UTC

Jack Dorsey says Square open to making bitcoin investments

Square CEO Jack Dorsey caused quite a stir on Twitter Wednesday evening, declaring that “Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem.” Dorsey has recently become a hero to many Bitcoin fans due to his participation in the Lightning Network Torch passing and […]
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Mar 21, 2019, 11:35AM UTC

Connext Network releases Dai Card, a browser-based wallet for low-cost, instant payments

Yesterday, Connext, the payment channels project, launched its Dai Card product on the Ethereum mainnet. The Dai Card is a non-custodial, browser-based wallet that leverages Connext’s payment channel hub infrastructure. Like Bitcoin’s Lightning Network, Dai Card users can now make instant, low-cost, trust-minimized payments in Dai.   In the 24 hours since its launch, Dai […]
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Mar 13, 2019, 9:28PM UTC

Jack Dorsey: Cash App Lightning Network integration not an 'if' but a 'when'

Following his participation in the Lightning Network Torch game, Jack Dorsey, CEO of Twitter and Square, went on the Stephan Livera podcast with Lighting Labs CEO Elizabeth Stark, to discuss Bitcoin, the Lightning Network, and the Cash App. When asked why he decided to focus on Bitcoin instead on other alternative cryptocurrencies, Dorsey said that “it’s […]
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Feb 11, 2019, 8:52PM UTC

Casa opens its code to the public

Cryptocurrency wallet Casa is open sourcing the code for the Casa Node, the company has announced. The startup provides safe key storage and allows quick access to the lightning network. The code will be available for modification for both private and commercial use, under an MIT license.  “We aim to provide a product that is […]
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Feb 1, 2019, 12:06PM UTC