Lightning Network simplifies money transmission

The forward looking technology turns introduces cryptocurrency exchange without any intermediarie
24 November 2017   1395

The Lightning Network, or LN, is one of the most expected protocols. It can help to solve the problem of transaction’s speed. The main difference is that the blockchain doesn’t includes the information about accomplished micropayments. It means, that users can make so many payments as they need and only a total balance of transactions will be recorded in the blockchain.

There is nothing to worry about safety because a recipient can’t get money until he or she signs a special agreement. According to this document a remitter can get paid back, if other party of the contract fails to comply fully with the requirements.

Speaking of advantages of LN, it should be noticed that the technology allows to make micropayments without any impacts on the blockchain. Users can also exchange cryptocurrency without intermediaries with the help of so called atomic swap. The essence of this process is in specific terms of a bargain. A transaction must be fully accomplished or the deal is off.

Atomic swaps has already been tested with the following blockchains: Litecoin, Decred, Vertcoin and Bitcoin.

BTC Extortionists to Send Explosion Threats In US & CA

Police reported that explosive devices in the places specified by extortionists were not found
14 December 2018   90

In Canada and the United States, local businesses and residents received letters threatening to detonate a bomb if they did not send bitcoins to extortionists. Because of this, in some regions, law enforcement officers evacuated people from bus stations, schools and airports, reports Global News.

Extortionists threatened to blow up universities, schools, city halls and local businesses in the US states of Utah, Aidaxo, New York, Oklahoma and Illinois. The New York City Police Department urged residents not to panic or send bitcoins to criminals. Police also reported that explosive devices in the places specified by extortionists were not found.

In Canada, extortionists promised to blow up buildings and car dealerships in Toronto, Edmonton, Ottawa, Calgary and Montreal. Some residents of the attackers asked for a ransom in bitcoins in the amount of $ 20 thousand. After verification, the Calgary police stated that the messages were part of phishing attacks and did not pose a threat to the public.