A central-bank approved Malaysian Fintech startup that has specializes in international money transfers has completed its first cross-border transfer on RippleNet, Ripple’s enterprise blockchain platform using an API solution.
Lightning Network is a second-level protocol that operates on top of a Bitcoin blockchain. The developers of the main cryptocurrency payment network offer it to increase the speed of transactions. The relevance of technological solutions caused by the growing interest in digital money. The increase in the total volume of operations has led to the need for system scalability.
Bitcoin mining is the process of determining the cryptographic signature of operations block. The block of operations writes down the information about transactions entered into the network after the generation of the previous group of transactions (about 10 minutes). The main cryptocurrency network uses the SHA-256 Hash Algorithm. The miner is rewarded for his actions in digital coins.
The National Bank of Ukraine (NBU) is considering launching a state-owned digital currency based on blockchain, local news outlet Vesti Ukraine reported. NBU says that the blockchain-based hryvnia, or e-hryvnia, has to be centralized and remain under government control. The state-backed coin is expected to increase the rate of non-cash payments, along with reducing their cost.
Blockchain firm Bitfury has developed a coffee vending machine capable of connecting to the Lightning Network, a second-layer transaction protocol designed to make bitcoin more scalable by processing transactions off the main bitcoin blockchain.