Bitcoin Core works on a new scaling upgrade

Having SegWit activated, the Bitcoin Core team is now working on a new Bitcoin scaling solution
13 October 2017   1210

SegWit, a process by which the block size limit on a blockchain is increased by removing signature data from Bitcoin transaction, has successfully locked-in the Bitcoin network. Still, it seems like Bitcoin's Core developer team isn't done scaling the cryptocurrency's protocol.

Thus, while a lot of users are looking for more aggressive scaling via the controversial Segwit2x proposal, Bitcoin Core team is working on other technology called "Schnorr signatures".  It offers another signature scheme option alongside Elliptic Curve Digital Signature Algorithm (ECDSA). One benefit is that it supports "signature aggregation" on the Bitcoin blockchain. Hence, the change aims to consolidate activity that already takes place on the network with each transaction. Under the ECDSA scheme, each piece of a Bitcoin transaction is signed individually, while with Schnorr signatures, all of this data can be signed once.

As a blockstream engineer, Jonas Nick, claims to coindesk.com, this method of mashing signature data together should be considered "low-hanging fruit for helping bitcoin scale". First, by decreasing the number of signatures, it increases the amount of transaction data that can fit into each block. Second, by merging signatures, the technology could enhance privacy by making it harder to determine where transactions are coming from. Third, it's believed the change could curb "spam attacks", where one entity sends a bunch of small bitcoin transactions that take up extra space in the blockchain, potentially making nodes more difficult to run.

Bitcoin price chart on coinmarketcap.com
Bitcoin price chart on coinmarketcap.com

Meanwhile, Bitcoin price is growing: at the time of writing, the first cryptocurrency price is about $5490.12 (to the moon!), its market capitalization is $91,244,625,004. 

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   120

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.