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   1620

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

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   291

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.


Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.


Will Reeves


According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.