European Central Bank wary of Bitcoin $10.000

A member of the ECB’s Governing Council Ewald Nowotny states that the rise of Bitcoin to $10.000 may affect the real economy
28 November 2017   1620

Ewald Nowotny, the governor of the Austrian Central Bank, who also serves as a member of the ECB’s Governing Council assumes that the rise of Bitcoin may affect the real economy, cause panic and shift the blame to central banks.

The problem with bitcoin is that it could easily blow up and central banks could then be accused of not doing anything…So we’re trying to understand whether bank activity in relation to cryptocurrency trading needs to be better regulated.

 

Ewald Nowotny

The governor of the Austrian Central Bank and a member of the ECB’s Governing Council

The rules and regulations in Europe allow for the easy buying and selling of cryptocurrencies. Europe holds Bitcoin in popularity, but additional altcoins are also widely available.

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   320

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

Fold

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.