Lightning Network Reaches Record Capacity Highs, Passing 4,000 Nodes

Bitcoin’s main network implementation of the Lightning Network has recently reached a new all-time capacity high, passing 4,000 nodes for the very first time.

333 BTC Capacity

The so-called “second layer” payment protocol which operates on top of the existing Bitcoin network, the Lighting Network (LN), has recently surged in capacity of more than 333 BTC, according to data from monitoring resource 1ML. This marks a 200 percent surge in less than in a month.

At the same time, the number of nodes has increased with upwards of 8 percent, surpassing 4,000 for the first very first time.

Bitcoin Lightning

The main purpose of the LN is to ensure transactions and payment settling off-chain, hence offloading the main network and helping it scale.

In the meantime, Bitcoin (BTC) has seen a serious drop in its price during the last week. The market’s forerunner is currently trading at about $5,477.77, marking a 2.30 percent decrease over the last 24 hours. The cryptocurrency is down more than 13 percent in the last week, which is the lowest it has been trading since last October. It has also fallen to a market cap below $100 billion.

LN Catching Up to Speed

The Lightning Network, however, has been catching up to speed, as is evident from its performance. Last month, Live Bitcoin News reported that Chile’s largest Bitcoin exchange, Budahas integrated support for LN.

In September, CoinGate brought LN-enabled payments to its network of over 4,000 merchants globally.

Additionally, Litecoin’s Charlie Lee noted earlier in October that “Bitcoin with Lightning Network more closely fits the Bitcoin whitepaper’s title: ‘A Peer-to-Peer Electronic Cash System.’ This is Satoshi’s Vision.”

What do you think of LN’s increasing number of nodes? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock and Twitter/@SatoshiLite.

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Want Your DNA on the Blockchain? This Company Does, Too…

Fancy your DNA being on the blockchain? Technology startup Nebula Genomics is offering customers a new deal that includes free genome sequencing for its new blockchain-based genetic marketplace.

How Does It All Work?

The process seems relatively simple. Customers interested in taking part provide the company with some health-based information to get the process started. They then refer their friends, and for any amigo that joins up, the referrer garners Nebula tokens, which they can use to pay for a lo-fi sequence. This is a basic examination of one’s DNA. Not all the information can be gathered in one sitting, but this will set things in motion. The more tokens one earns, the stronger their DNA reading can be.

This information is subsequently shared with pharmaceutical companies. Granted they find your data interesting, they may ask to study your DNA further. Upon earning your permission, they will cover your DNA up to 30 times more. The information is then stored on the Nebula blockchain, which executives say offers the highest levels of security, anonymity, and transparency.

Fancy your DNA being on the blockchain?

Time to Make Some Moolah

Granted anyone wishes to access your information on the blockchain, they must pay a fee. This fee goes to the person who submitted the DNA, which they can then use to pay for further tests and products that better interpret their genetic codes.

Once the fee is paid, the person accessing the information can only see the results of researchers’ tests, not the raw data itself. In addition, they may only access the results using Nebula’s computers to lessen opportunities to tamper with data.

Granted a person doesn’t wish to provide their health information or is looking to keep certain facts about their health history private, the basic sequencing package is now available for roughly $99.

Making Things More Efficient

Noah Zimmerman – the director of Nebula’s data center – explains that a serious genome sequence can cost upwards of $1,000 to process. Furthermore, coding is often slow and takes several weeks to complete. However, he claims the company’s recent partnerships with national pharmaceutical ventures have ultimately made the process much faster and cheaper for participants. He says:

What’s the closest thing you can come up with to a direct data marketplace? I can’t think of one. We’ve always required trusted third-party brokers to make these deals, and the value is accruing to individual participants… There is potential here for people who are contributing data to be rewarded proportionally to how valuable their data is.

Is this a project you would participate in? Why or why not? Post your comments below.

Image courtesy of Shutterstock

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‘Dr. Doom’ Nouriel Roubini Gloats over Bitcoin Price

Nocoiner Nouriel Roubini, also known as Dr. Doom, is gleefully gloating about the recent drop in Bitcoin price.

The recent dramatic fall in Bitcoin price has caused quite a bit of consternation among the crypto faithful. The world’s foremost cryptocurrency had been rather steady for the last few months, trading between $6,200 and $6,800. That came to an abrupt stop when the coin dropped from just over $6,300 to under $5,400. Those individuals who hate cryptocurrency are ecstatic with this turn of events, with noted nocoiner Nouriel Roubini, also known as Dr. Doom, gloating over the slumping Bitcoin price.

Joy for the Nocoiner

Christmas came early to the New York University professor when the price of BTC dropped dramatically. The noted nocoiner took to Twitter to broadcast his glee. He tweeted:

I could gloat about Bitcoin collapsing 10% in a day to $5700. But that is still some way to ZERO where Bitcoin belongs. Actually since Bitcoin is The Mother of All Toxic Pollutions & Environmental Disasters its true fair value is highly NEGATIVE with the right externality tax

This is par the course for the cryptocurrency skeptic. He has long railed against Bitcoin and other cryptocurrencies. It was just last month when he went on another diatribe against the crypto community, ranting:

Scammers, swindlers, criminals, charlatans, insider whales and carnival barkers (all conflicted insiders) tapped into clueless retail investors’ FOMO (“fear of missing out”), and took them for a ride selling them and dumping on them scammy, crappy assets at the peak that then went into a bust and crash — in a matter of months — like you have not seen in any history of financial bubbles.

Dr. Doom Proven Wrong Before

It’s just not cryptocurrency that Nouriel Roubini focuses his ire on – he also is not a fan of blockchain technology. He calls this innovative technology “the most over-hyped – and least useful – technology in human history: in practice, it is nothing better than a glorified spreadsheet or database.”

Nouriel Roubini rails against Bitcoin.

One wonders what he makes of all the financial and corporate giants eagerly investing millions into blockchain technology. Perhaps he doesn’t think too much of companies like IBM or JP Morgan as they’ve joined the blockchain revolution.

Roubini has been wrong before when it comes to cryptocurrency. He has been way off when it comes to Bitcoin transaction fees, the true decentralization of blockchain, and the fact that crypto is not the currency of choice for criminals. This lack of awareness is summed up in an old tweet of his from 2013 where he gloats about Bitcoin falling to $58. Some would say having something appreciate 100x in value over five years would be quite astonishing.

Overall, this is par the course for the nocoiner. His main claim to fame is predicting the financial meltdown in 2008, but so did a lot of other people. A few years ago, his economic research firm, Roubini Global Economics, was losing millions of dollars.

One thing is certain when looking at Roubini’s Twitter history – he’s a big fan of centralized power. He is happy to see the difficulty the UK is having in making their Brexit from the European Union. He’s a proponent of open-borders trading that benefits the largest corporations, and he’s definitely not a fan of the United States’ second amendment. As cryptocurrency was created to allow people to strike a blow for individual economic freedom against the financial gatekeepers, it’s obvious to see why Roubini is not a fan.

What do you think of Dr. Doom’s recent gloating? Let us know in the comments below.

Images courtesy of Shutterstock, Twitter/@Nouriel, and Flickr/@Matt Ray.

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