First Lightning Mainnet Beta Client Released

There are some restictions for lnd 0.4 -  $ 1,400 for one payment channel or approx. $ 400 for one payment
16 March 2018   1596

California start-up Lightning Labs introduced the first beta version of the Lightning client for the main bitcoin network, lnd 0.4, which will allow users to send bitcoins out of the blockchain.

It also became known that the company raised $ 2.5 million from the CEO of Twitter Jack Dorsey, the executive director of Square Capital Jacqueline Reese, the founder of Litecoin Charlie Lee and COO PayPal David Sachs.

CEO of Lightning Labs Elizabeth Stark said that about 1800 people have already joined the Slack channel dedicated to the LND client, and the developers have already created dozens of applications based on this software.

The target audience for the release is the developers and "advanced users" who can own a full node and use the LND command-line interface.

However, for this beta version, there are restrictions - $ 1,400 for one payment channel or approximately $ 400 for one payment.

Stark warned users not to use the beta version if they were afraid of losing funds, as many of the things the development team had introduced for the first time and it was not known where the problem might arise.

Chinese Bitcoin Miners Share to Reach 66%

Such superiority of Chinese miners may be due to a large number of farms or more advanced equipment for mining cryptocurrency, expert believes
12 December 2019   86

Miners based in China currently control two-thirds of the total processing power of the bitcoin network. It is reported by Reuters, citing a fresh report by CoinShares.

In June, this value was 60%, reaching the highest level in December over the past two years, during which CoinShares tracks this data. According to the chief researcher of the company Chris Bendiksen, such superiority of Chinese miners may be due to a large number of farms or more advanced equipment for mining cryptocurrency.

This is beneficial to the Chinese mining industry. If you are the first to increase your proportion of the hashrate, and you can do that before your competitors, that’s generally good.

Chris Bendiksen

Head of Research at CoinShares

As the publication recalls, such major mining equipment manufacturers as Bitmain, MicroBT and Canaan are also based in China.

CoinShares representatives also noted that since June, the bitcoin hash rate has increased by 80%, which was partially possible due to the high profitability of this activity and more powerful equipment.

Bitcoin Difficulty Chart
Bitcoin Difficulty Chart

Despite the harsh rhetoric of the Chinese authorities regarding cryptocurrencies, in November, the National Development and Reform Commission (NDRC) did not include mining in the list of “undesirable industries” that are subject to ban.