Lightchain promises millisecond transaction time for Bitcoin

Lightchain technology promises to shorten transaction times and help with blockchain performance issues
17 January 2018   880

Right now Bitcoin blockchain is congested with slow transactions and the fees are rising by hour. So, the Lightchain technology comes to the rescue. This double-layer blockchain aims to resolve this issues by implementing one master chain together with several sub-chains. The prime chain, like Bitcoin, will provide transparency and the overall control, while sub-chains resolve the transactions and synchronize the results on regular basis to the master chain. The developers promise the speeds up to 100 000 transactions per second with maintaining the current tamper-proof qualities of the blockchain.

This effect is achieved by implementation of “Proof of Machine” concept and using an in-memory database cache on the sub-chains. The in-memory cache reduces the time needed to fetch frequently used data, thus increasing total operating speed. The whitepaper goes on to explain, that there will be only one prime-chain, or mother chain, to provide decentralized distributed network that is immutable and transparent to public, while the number of sub-chains can be extended when necessary to increase performance.

This concept is one among many others promising to solve the existing Bitcoin blockchain problems. SegWit, Lightning Network, Schnorr signatures all devise their own way around the issues, and now Lightchain comes forward to expand the amount of possible solutions.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   149

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.