Tag Archive : Network

Bitcoin Lightning Network ensures larger payments capability

Bitcoin Lightning Network releases a 0.10 beta version of its LND software, to improve routing efficiency and reliability of its infrastructure. 

According to the latest reports, San Francisco-based crypto firm Lightning Labs has introduced a 0.10 beta version of its LND software. It is one of the most important iterations of the Bitcoin Lightning Network. The key highlights of this latest update include – Multi-Path Payments, Partially-Signed Bitcoin Transaction (PSBT) support, on-chain fees, developer improvements, security, architectural improvements, and other bug fixes. The 0.10 beta version aims to improve the routing efficiency of lightning payments. 

What is the Lightning Network?

It is a second-layer incorporated on top of the Bitcoin blockchain that enables faster and cheaper transactions. Prior to the latest update, users could only lock a limited amount of Bitcoins in the channels. Moreover, there used to be a lot of friction in routing transactions. 

More about the latest update

The most important aspect of the latest update is regarding multi-path payments. The 0.10 beta version will allow users to quadruple the number of BTCs that can be locked in channels. This will essentially improve routing efficiency, and instill a lot more liquidity in the channels. According to the announcement, “A related change is the lifting of the maximum invoice size, which was previously 4.2 million satoshis (0.042 BTC). Starting with LND v0.10-beta, payments up to the maximum size of a channel will be allowed. (Currently, the maximum channel size is 16.7 million satoshis (0.167 BTC.)”

The update also added support for Partially-Signed Bitcoin Transaction (PSBT). It is a cryptographic method for hardware wallets to sign transactions without revealing the keys to a device. 

Another important part of this update developer improvements. Lightning Labs explained, “Finally, in and v0.10-beta, we’ve added an “Experimental Services” section to the LND gRPC API. These services are designed to allow LND developers to experiment with and give feedback on new APIs while they’re in the process of being developed. This will also give new features and APIs a place where they can be tested, stabilized, and matured before being added to the main LND API. For REST developers, we’ve also made the REST API docs more easily accessible.”

As of now, as many as 955 BTCs are locked in Lightning Network channels. This figure accounts only for public nodes. If we consider the private nodes as well, this number could be much higher. 

Researchers Expose Privacy Flaws in Bitcoin Lightning Network

University researchers identify privacy concerns in Bitcoin Lightning Network; propose solutions to trade off efficiency for security.

Researchers from the Norwegian University and the University of Luxembourg have expressed concern over the privacy safety in Bitcoin Lightning Network. They have detailed the possibility of a ‘probing attack with moderate capital commitment and no expenditures on the network at a rate of under a minute per channel’ in their recently published research paper. As per their theory, this could expose anonymous transactions stored across the network. The researchers said that, by using a technique called transfer routing, they could find out the sum of Bitcoins held in balances. 

About the Lightning Network

The Lightning Network is basically a solution that enables near-instant, low-cost Bitcoin transactions. Advocates of the concept claim that it offers enhanced privacy via the Segregated Witness method. In the lightning network, users can either transfer funds directly between two parties, or they can route the transactions via a mutually-agreed-upon third party. 

In the case of the latter, the researchers could use a range of routed transactions on the Bitcoin testnet, thus being able to reveal individual channel balances. 

As of now, the Lightning Network houses 11,000 nodes, 36,000 payment channels, and about 900 BTC.

Proposed Solutions

The group of researchers has proposed several potential solutions to this problem, but at the same time, they acknowledged the fact that in order to implement those solutions and enhance privacy, the network will have to lose some of its efficiency. They suggested a few changes to the network’s protocol but warned that those changes will reduce transaction efficiency at the cost of better privacy. 

However, they vouched for the fact that this is the most viable solution in order to maintain a balance between privacy and efficiency. 

GiG Adds 1X2 Network Virtual Sports to B2B Sportsbook Solution

Online casino and sports betting solutions provider Gaming Innovation Group (GiG) today announced that it has partnered with virtual sports expert 1X2 Network to offer virtual sports to its operator partners at a time when all major sports around the globe are halted.

As part of its recently penned partnership with 1X2 Network, GiG has been able to add the provider’s virtual sports content to its sportsbook solution and thus provide online gambling operators with the opportunity to expand their offering with products from 1X2 Network.

1X2 Network provides virtual sports offering through its Leap Gaming strategic partner. The content offered to clients includes high-quality on-demand virtual sports products as well as in-play virtual betting.

GiG said that its operator partners can now offer their bettors the opportunity to engage on-demand and connect with their favorite sports, thanks to the newly added 1X2 Network virtual sports content.

According to GiG, sports enthusiasts can engage with 1X2 Network’s products in the same way they would with live sports.

The newly added virtual sports portfolio includes instant horse racing, greyhound racing, trotting, Velodrome, speedway, and football as well as scheduled tennis and horse racing.

The partnership with 1X2 Network and the addition of virtual sports comes as the latest upgrade to GiG’s sportsbook solution as the company looks to cement its position as a leading B2B industry provider.

Placing Operators at the Forefront of Sports Betting

Of their partnership with 1X2 Network, GiG Chief Information Officer Chris Armes said that teaming up with the content provider allows them to offer “a quality virtual sports portfolio with realistic 3D games for some of the most popular on-demand sports betting games.”

Mr. Armes went on to say that this allows operators to increase their offering and thus place themselves at the forefront of sports betting.

News about GiG enhancing the offering available through its sportsbook solution emerge just days after the company announced that it has secured regulatory approval to offload its B2C business to online gambling group Betsson.

GiG first announced the sale of its online casino and betting brands, those being Rizk, Guts, Kaboo, and Thrills, this past February.

The company said that the move would allow it to focus entirely on the provision of B2B services for the online gambling industry and would help it “reduce complexity and improve efficiency.”

1X2 Network has had eventful few weeks itself. The company recently announced that its casino content has gone live with online gambling operator BGO.

And earlier in April, 1X2 Network penned a content supply deal with BetWarrior. Under the deal, the gambling operator and its audience in Latin America would gain access to 1X2 Network’s entire portfolio of casino games as well as to Leap Gaming’s entire suite of virtual sports products.

Source: GiG strengthens sportsbook offering to operators by launching virtual betting with 1X2 Network

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1X2 Network Celebrates BGO Casino Content Integration

Online casino content developer and supplier 1X2 Network last week expanded its foothold even further as its games library was taken live by online casino brand BGO.

BGO was the latest client of the iGaming provider to go live with its suite of diverse online casino games.

1X2 Network and BGO penned a content supply deal a few months ago but it was only recently when the online casino gained access to the provider’s titles.

Under the terms of the agreement, BGO players are now able to access releases from 1X2 Network’s Iron Dog Studio and 1X2gaming game development arms.

The content recently rolled out with BGO includes hit titles such as Rainbow Wilds and Battle Maidens as well as Pirate Kingdom Megaways, 1X2 Network’s first game to deploy Big Time Gaming’s innovative and highly popular Megaways mechanic.

The integration of 1X2 Network content with BGO took place via Playtech’s POP iGaming platform.

Truly Fantastic Content

Commenting on their partnership with 1X2 Network, BGO Product Director Andy Dymock said that they take great pride in their games offering and “invest a great deal of time in finding the best developers to add to the mix.”

Mr. Dymock went on to say that 1X2 Network’s game development studios Iron Dog Studio and 1X2gaming “are on a run of developing and launching some truly fantastic games” and that they are delighted to now be able to provide their players with access to these games.

1X2 Network Chief Commercial Officer Kevin Reid commented that since their partnership with Playtech, their distribution network of tier-one operator partners “has ramped up” and that they are delighted to now work with BGO.

Mr. Reid added that their games “deliver quality across the board from design to gameplay, ramping up the fun factor and keeping players engaged and entertained.”

LatAm Expansion

News that 1X2 Network content has gone live with BGO emerge just days after the gambling provider announced that it has been able to significantly bolster its presence in Latin America with a deal with iGaming and betting operator BetWarrior.

Under the terms of that recently clinched deal, BetWarrior would be able to offer its LatAm gambling audience the entire 1X2 Network suite of online casino games, including the above-mentioned Pirate Kingdom Megaways.

Of its partnership with BetWarrior, an ambitious and rapidly growing online gambling operation that was launched last summer, 1X2 Network said earlier this month that it was delighted to see its content live with its new partner and that Latin America was “a key area of development” for the content developer and supplier.

The link-up between BetWarrior and 1X2 Network would also see the operator gain access to the provider’s suite of virtual sports offering.

Source: BGO becomes the latest to deploy 1X2 Network titles

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Nodle Network Begins Shift from Stellar to Own Arcadia Blockchain

Steller blockchain-based decentralized network provider Nodle Network has announced through a blog post that it is shifting from Stellar to its own Arcadia blockchain. Nodle Network specializes in the Internet of Things (IoT) and has five million active nodes 1.3 million daily transactions as of now. 

Nodle previously stated that Stellar handles its massive daily micropayment transactions with ease. However, it claimed that implementing more advanced features as mentioned in its whitepaper is the main reason for the shift.  

About the Arcadia Blockchain

The Arcadia Blockchain is backed by the Parity Substrate framework It implements a modular design with a focus on becoming Polkadot’s parachain. Eliott Teissonniere, Nodle’s blockchain architect is of the opinion that the success of Arcadia will depend on its interoperability capabilities.

He went on to add, “It’s a bet on the future. And essentially, they’re going to be able to use it in a few weeks to interact. So we were going to open a customer interface. And so you’ll be able to use another currency that you’ve earned to develop the fine stones, to set up playbooks to connect your own devices.”

In the context of achieving interoperability, Nodle also hinted that it might integrate Stellar and Arcadia in the future through an advanced upgrade. 

Nodle Cash

The Nodle Network will be powered by its own crypto Nodle Cash. As of now, the cryptocurrency does not have any value and is not even listed on any exchange. Nodle co-founder and CEO, Micha Benoliel commented that the company wants to build enough value and develop the ecosystem into a more robust one, before listing the coin on any exchange.

Nodle Network offers Nodle Cash as compensation to app developers and has already made its footprint on 20 million smartphones monthly. 

Nodle quoted its Blockchain architect Eliott Teissonniere – “The launch of Arcadia is a leap forward for the IoT and Blockchain ecosystems. It represents the first public version of a central component of The Nodle Network that will be in charge of securely and privately maintaining IoT data transmitting through the network. Arcadia will support use-cases never imagined before, and serve as a testbed for new features that would then be deployed to the main Nodle Network after thorough testing.”

Arcadia is currently in the testnet. The firm has not mentioned any specific date for the release of the mainnet. However, it is being expected that Arcadia will arrive in the mainnet within six months. 

IOTA is one of the major competitors of Nodle. It faced a major hack recently and is still coming off the ashes. This might be a great opportunity for Nodle to capture a major part of the IoT blockchain market.

 

1X2 Network Partners BetWarrior for LatAm Expansion

Online gaming software group 1X2 Network has been able to boost its presence in the lucrative LatAm region through a recently signed partnership with iGaming operator BetWarrior.

Under the terms of the deal, BetWarrior and its LatAm gambling audience will gain access to 1X2 Network’s portfolio of games, including hit titles such as Rainbow Wilds and Battle Maidens as well as the content developer’s first Megaways slot – Pirate Kingdom Megaways.

The deal will also see BetWarrior go live with any future releases produced by 1X2 Network’s 1X2 Gaming studio and Iron Dog Studio, including the group’s upcoming second Megaways slot title.

BetWarrior is a mobile-focused online sports betting and casino-style gaming operator. It was launched in 2019 and is licensed in Curacao. Latin America has been among BetWarrior’s core markets since the very beginning of its existence on the global iGaming scene.

Commenting on their partnership with 1X2 Network, BetWarrior Casino Product Manager Katalin Horvath said that their latest content supply deal represented another step towards “delivering players the best casino and virtual sports content in the world.”

Ms. Horvath went on that 1X2 Network “is helping BetWarrior further strengthen what is already the leading mobile casino experience on the market.”

LatAm Focus

Of their partnership with BetWarrior, 1X2 Network Country Manager for Italy, Spain, and LatAm Piero Carlucci said that the operator has quickly cemented itself as a leader in the Latin American region and beyond and that they are “delighted to see our games be made available to its players.”

Mr. Carlucci added that this new partnership will further help them establish 1X2 Network as a leading game provider in the region as they have identified Latin America as “a key area of development.”

The partnership between BetWarrior and 1X2 Network will provide the operator with access to Leap Gaming’s entire suite of virtual sports products, including football, horse and greyhound racing, speedway, velodrome cycling, and tennis.

1X2 Network’s deal with BetWarrior marks the latest milestone celebrated by the company this year. In January, the company obtained a B2B supplier license from the Malta Gaming Authority that would further enable it to expand across desired territories.

As for BetWarrior, its partnership with 1X2 Network was the latest the operator has secured to support its LatAm expansion. Late last year, the company announced that it had teamed up with online slots specialist Play’n GO, which has, too, been focused on growing its presence in the region.

It was late in 2019 again when news emerged that BetWarrior has added NETELLER to the list of payment options available to its Brazilian customers. The partnership between the operator and the major eWallet marked the latter’s return to the Brazilian market after a nearly two-year absence.

Source: 1X2 Network boosts LatAm presence with BetWarrior

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Coinbase Adopts Bitcoin Batching to Reduce Network Load and Transaction Fees

A few of the major problems that users face while transacting on cryptocurrency exchange are high network fees and slow transaction speed. Cryptocurrency exchanges with large trading volumes often have too much load on their network due to which these sorts of challenges arise. However, major crypto exchange Coinbase has announced a move that is a potential solution.

Through a blog post published yesterday, the San Francisco based exchange has announced that it will batch multiple bitcoin transactions together, instead of putting through individual transactions.

The Coinbase Solution
In the blog post, Coinbase product manager Eli Haims commented, “We anticipate that this will reduce our load on the Bitcoin network by more than 50%, and the network fees our customers pay will automatically be reduced by an equivalent amount when sending.”

Coinbase confirmed that the batching procedure is already in place. It also said that there will be a slight delay in the broadcasting of transactions to the network, However, Coinbase clarified that the process will not affect the users’ transaction confirmation time.

How will Batching help?
Traders and users often end up paying high transaction fees while there is congestion in the network due to a high number of transaction requests. Batching will reduce the number of individual transactions that the nodes need to process at once. This will comprehensive increase transaction speeds and reduce transaction fees.

How does the cryptocurrency scenario look at the moment?
The outbreak of the Coronavirus has taken a major hit on the global economy. It has also affected the cryptocurrency space. A large number of investors, users and traders are liquidating their holdings, thus leading to an increase in the average transaction fees. Major cryptocurrencies have also lost value in the last couple of weeks. It would be interesting to note how the crypto world recovers after this major set back.

Sportradar and The Action Network Announce Multi-Year Partnership for Real-Time Data

Sportradar and The Action Network Announce Multi-Year Partnership for Real-Time Data

Sportradar, the world-leading provider of sports data and content solutions, today announced a multi-year partnership with The Action Network to be the company’s official sports data and content provider.

Specifically, The Action Network will leverage Sportradar’s wide-ranging sports data services for its premium subscription product, Action Edge, and to enhance the mobile experience for consumers looking to track their favorite scores and stats in real-time.

“Sportradar, like The Action Network, sits at the center of sports, media and betting,” said Dave Abbott, MD of US Media, Sportradar. “As such, we are always looking to align ourselves with like-minded brands that understand the shifting nature of the fan experience and how to create engaging, bespoke products for sports fans. We are excited to work with The Action Network to fully unlock the potential of its growing audience.”

The partnership will also help support the creation of dynamic content, allowing The Action Network to deliver a variety of unique data insights to sports consumers. With the ability to tell richer stories with deeper context around team and athlete performance, The Action Network is aiming to engage consumers in the moment while they follow their action.

“The traditional digital scoreboard must evolve to serve bettors. Sportradar’s seamless real-time data offering will allow us to do what we do best, which is serve our audience through our best in class app and memberships,” says Matt Restivo, Chief Product Officer of The Action Network. “Sportradar will help us efficiently scale the sports that we support, bringing more unique data and information to the consumer.”

1X2 Network, White Hat Gaming Announce Content Deal

1X2 Network announced that it has teamed up with fellow provider of content and solutions for the online gambling industry White Hat Gaming to cement its footprint across a number of regulated markets.

Under the terms of their deal, 1X2 Network will provide its new partner with access to online slots and table games from its 1X2gaming and Iron Dog Studio arms. The partnership between the two industry providers will also see White Hat connect to 1X2 Network’s 3PI content aggregation platform.

The aggregator boasts titles from 16 unique game development studios that, according to 1X2 Network itself, cannot be “commonly found with other aggregators”, including recently formed Black Pudding Games studio, which already has three titles in its portfolio.

Among the games that White Hat will gain access to following its partnership with 1X2 Network are hit titles Blood Queen, Battle Maidens, Viking Wilds, and the supplier’s first slot to utilize the widely popular Megaways mechanic, Pirate Kings Megaways.

The deal will also enable White Hat to provide its partner operators with access a selection of 1X2 Network table games and virtual sports.

News about 1X2 Network’s partnership with White Hat emerge weeks after the company announced that it had strengthened its existing partnership with online gambling software provider Iforium. Under that extended partnership, Iforium has gained access to 1X2 Network’s third-party game studios via its 3PI aggregation platform.

Delighted to Partner with White Hat

Commenting on their partnership with White Hat, 1X2 Network Chief Commercial Officer Kevin Reid said that they are delighted with this partnership as they regard White Hat “as one of the most reputable platform providers in the world.”

Mr. Reid went on that this deal will propel their online casino and RNG content onto going live with more iGaming brands and to more players than ever before.

White Hat Gaming Head of Games Mike Dearling commented that they have built a reputation for offering one of the largest portfolios of quality content across the industry and this is why they wanted to add games from 1X2 Network’s 1X2gaming and Iron Dog Studios.

The Head of Games at the major content provider added that titles from the above-mentioned studios have soared in popularity in recent months “thanks to their incredible design and entertaining gameplay.”

This is the latest of several major partnerships announced by White Hat in recent months. Late last year, the company forged a multi-state platform agreement with US casino operator Penn National Gaming.

Under the terms of the deal, Penn National would deploy White Hat’s Player Account Management solution and would integrate with the provider’s platform as it looks to embark on a “multi-state real money online rollout.”

Source: 1X2 Network strikes White Hat Gaming partnership

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