US Presidental Candidate to Accept BTC Donations

OpenNode payment solution allowed fans of Andrew Yang to show support by sending Bitcoin donations using the
25 July 2019   923

Supporters of the US presidential candidate from the Democratic Party, Andrew Yang, launched the independent political actions committee of the Humanity Forward Fund, realizing in particular the possibility of bitcoin donations from Lightning wallets. It is reported by CoinDesk.

Technical integration of the solution was made possible through the OpenNode payment service.

The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity. It allows the donors to have all of the amount go toward the actual donation rather than miner fees.
 

Afnan Rahman

CEO, OpenNode

According to representatives of the Humanity FWD, donations will be accepted exclusively in Bitcoins for 21 days after the launch of the committee. After this, it will be possible to support Young with fiat means.

At the same time, whether the Humanity FWD will store the received bitcoins or immediately convert them into Fiat, they have not yet decided in the committee.

Potentially earning or losing money creates additional regulatory requirements.
 

Seth Cohen

Founder, Humanity FWD 

He also stressed that the OpenNode commission of 1% is much lower than similar fees for processing services processing credit card transactions.

It is worth noting that one of the promises of Andrew Young, who is running for the US presidency, is “promoting legislation that provides clarity” for cryptocurrencies.

Young became the first participant in the 2020 race, who proposed a specific cryptocurrency policy. In particular, he intends to contribute to determining the status of a token [with recognition of the existence of utility tokens], powers of federal agencies, ensuring consumer protection in the field of cryptocurrency, developing a clear tax policy and creating a unified regulatory framework.

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   296

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.