Venezuelans to be Able to Send BTC Offline

Local developers are creating two device in the framework of the Locha project - Bitcoin mesh network, based on radio
22 January 2020   303

In Venezuela, the development team is preparing a Locha solution that will allow Bitcoin operations without connecting to the Internet.

The solution is a mesh network. The developers are also working on two devices that will allow you to connect to the Bitcoin blockchain using long-range radio waves.

The first, dubbed Turpial, is a simpler version of a radio transmitter that works at distances of one to two kilometers in urban areas. The second, Harpia, is a limited radio module for small computers.

Both devices are portable and run on battery power.

It is reported that in the future the solution can be integrated with any other blockchain, as well as messaging and file transfer systems such as IPFS.

We are making something for the situations where you don't have Internet at all, either due to lack of infrastructure, targeted censorship or in case you want to be completed anonymous so you don't want to expose your home/phone IP address that is linked to your identity.

 

Randy Brito

Member of the Bitcoin Venezuela 

He also explained that the network would not necessarily rely on nodes connected to the Internet via a landline telephone. Users with satellite dishes can also act as gateways and relay data.

It is expected that the development of devices will be completed by the second quarter of 2020. However, how much time will be required for their further production is still unknown.

Locha will be an open source project so that developers can use it in the future to create similar solutions.

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   255

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.