Bitcoin Diamond is to deploy its own Lightning Network

The Bitcoin Diamond Foundation is going to deploy its own Lightning Network on July 31 to adapt to high-frequency transactions
22 May 2018   1485

As more exchanges keep delisting anonymous cryptocurrencies (Coincheck with Monero, Dash, Zcash; Telegram in Russia) Bitcoin Diamond is going to adapt to high-frequency transactions and adopt Lightning Network. The goal of the foundation is to design an ecosystem with built-in economical and high-frequency real-time payment.

As Bitcoin has very high fees and low transfer speed, Bitcoin Diamond team has set out to look for a better environment. The main idea of Lightning Network is to put a bulk of transactions outside of blockchain while smart contracts are busy refining the off-chain transaction channels. As a result, blockchain just confirms the final transaction results.

Thus, in order to further improve the ecosystem, comply to regulations and be approved by the community, Bitcoin Diamond version of Lightning Network is set to be deployed on July 31 following the developers' assessment and community testing. At the moment of publication, Bitcoin Diamond market indicators are as follows:

Average price 3.58 USD
Market cap 550,950,860 USD
Volume (24H) 1,406,640 USD

Vaultoro Exchange Implements Lightning Network

Vaultoro is implementing Lightning Network as an instant deposit method
04 May 2018   1105

Vaultoro is a cryptocurrency exchange which offers such pairs as crypto and gold, and the gold is stored in a high security vaulting facility operated by ProAurum Switzerland, the largest precious metals dealer in Europe. Basically, Vaultoro is a way to buy and sell physical allocated gold and spend it anywhere Bitcoin is accepted.

Vaultoro has recently announced that it is implementing Lightning Network as an instant deposit method. Vaultoro CEO Joshua Scigala stated that Lightning is a technology that makes Bitcoins so fast that if you want to buy an order out of Vaultoro’s order book, you can hold Bitcoins in a wallet on your phone, set the order on Vaultoro, get a QR code and send the bitcoins through the Lightning Network, directly purchasing the order.

The Lightning Network takes bitcoin mainstream in terms of speed, privacy and utility. It’s the icing on this evolutionary cake and it’s beautiful to watch unfold. I’m super proud to make Vaultoro a little part of this story.

Joshua Scigala

CEO, Vaultoro

The users who are using Vaultoro can trade directly with other members and without a middleman, setting the prices themselves and saving expensive brokerage costs.