Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   1684

Casa startup, specializing in the creation of secure storage systems for private keys, introduced a mobile bitcoin application Sats App, which makes it easy to manage Lightning-node.

Sats App is positioned as a non-custodial bitcoin wallet "with unique functions." According to Casa CEO Jeremy Welch, the SatsBack reward program will soon be launched, under which users will receive small amounts in BTC. For example, for connecting an application and a Casa Node device to each other, the user will receive 20,000 Satoshi.

Features are focused on increasing adoption of bitcoin and lightning nodes. You will be able to earn bitcoin if you don’t have a Casa node, but you will be able to earn bitcoin faster if you have a node.
 

Jeremy Welch 

CEO, Casa

He also added that the application, available for iOS and Android, is “secure, private and connects via Tor”.

According to CoinDesk, the startup earlier raised $ 3.5 million from Castle Island Ventures, Boost VC and Compound, and several other investors. Currently, a startup staff of 25 people serves users from 60 countries.

Layer1 to Receive $50M Investments

These investment helped the startup to reach $200M market value and and will be used to enter mining market
16 October 2019   111

Layer1, backed by the Digital Currency Group (DCG) raised $ 50 million from a number of well-known venture capitalists, including PayPal co-founder Peter Thiel.

According to The Block, thanks to the successful closure of the Series A financing round, the company's market value reached $ 200 million.

Initially, the company focused on supporting the ecosystem of confidential cryptocurrency Grin. However, now the San Francisco-based firm intends to focus on bitcoin mining and plans to compete with Chinese miners over time.

We expect our chips to be competitive for at least eight years now...you want to have your own chips in hand. We also have our own electricity substations: effectively that's as close you can get to owning your own power plan.
 

Alexander Liegl

CEO, Layer1

To implement this plan, the company acquired land in Texas for the construction of substations, entered into a partnership with a Beijing manufacturer of semiconductors and built its own infrastructure for cryptocurrency mining. Ligl added that Layer1 intends to become a vertically oriented company that controls every element in the mining business process chain.

The company also intends to enter the lending and crypto derivatives markets.