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Sparkswap Desktop Lets Users Deposit Bitcoin Directly Into Their Lightning Wallets

Lightning service provider Sparkswap now features a desktop application with a first-of-its-kind killer feature: USD-to-bitcoin purchases that deposit sats directly into a user’s Lightning wallet. Dubbed “Sparkswap Desktop,” the new product “allows consumers for the first time ever to buy bitcoin directly into their Lightning wallets using USD,” according to a press release shared with Bitcoin Magazine. To use the feature, users wire a fee-free ACH transfer to a U.S.-domicile escrow account held by Sparkswap’s payment partner; from here, Sparkswap transfers the bitcoin into the user’s wallet using atomic swaps. This technique means that the process, while run centrally through Sparkswap, is completely noncustodial. “This is really an extension of the technology we’ve built previously — making it easier for non-developers to use and adding a trading pair that we find the most compelling. While this specific app has been in the works for a couple of months, it is a step toward goals that we’ve had since we started almost two years ago,” Trey Griffith, Sparkswap’s founder, told Bitcoin Magazine. Sparkswap’s existing stack had its beta release in April 2019. Another first for the young company, the beta launch released the world’s first user-ready atomic swap exchange to the Bitcoin public. This beta, however, was limited to bitcoin and litecoin trades, while this most recent news opens the exchange to fiat liquidity as well. For now, Sparkswap Desktop will cap buying amounts at 0.04 BTC to work within the channel limits reinforced by many of the wallets and tools the application integrates with. Griffith said that Sparkswap’s team has it in mind to expand this limit “over time if there is demand for larger transactions.” “Pushing Toward a Noncustodial Financial System” Sparkswap Desktop is available for Mac, Windows and Linux. Griffith explained that it’s also compatible with any “existing LND instance.” “We’ve focused in particular on Zap Desktop and the Lightning App since they support Neutrino, which makes them easy to get started with, but it works with any instance of LND at or above version 0.7,” he said. “We’d like to support other implementations and platforms in the future, and we’re looking at ways we can make the integration with existing node providers even easier.” Founded in 2017, Sparkswap quietly wrangled $3.5 million in funding from Initialized Capital, Pantera Capital and Foundation Capital, among others, in 2018. This latest release, Griffith told us, is another notch in their belt as they work toward a more decentralized financial landscape. “We’re trying to build applications that we think are important and valuable to the Bitcoin community and take advantage of the unique properties that Lightning offers. We don’t have specific products or features that we’re ready to announce yet, but I think you’ll continue to see us pushing toward a noncustodial financial system.” The post Sparkswap Desktop Lets Users Deposit Bitcoin Directly Into Their Lightning Wallets appeared first on Bitcoin Magazine.
Bitcoin Magazine

UK Could Require Wallets To Track Crypto Users

Big Brother is watching you, but his eyes are really on your wallet.  The UK’s chief financial watchdog could require crypto developers to keep track of their software’s users, in order to meet new anti-money laundering requirements that are expected to come into force next year. The Financial Conduct Authority (FCA) has proposed extending AML / CTF  (anti-money laundering and counter-terrorism financing) regulations to entities that deal in digital assets. That would require exchanges and token issuers to collect data on their users and hand it over to the authorities. It also includes any companies involved in “the publication of open-source software (which includes, but is not limited to, noncustodian wallet software and other types of cryptoasset related software).” Tracking Crypto Transactions The requirement appears to originate from a decision by HM Treasury to broaden the scope of AML / CTF regulation on cryptocurrency companies. It first appeared in an appendix to the FCA’s Guidance on Cryptoassets, published in July. The proposal could be enacted as early as next year, when the FCA transposes the EU’s Fifth Money Laundering Directive (5AMLD) into UK law on January 10th, 2020. Coin Center, a cryptocurrency research institute based in Washington, D.C.,  spoke out against the requirement in June, saying that “such an expansion would violate UK citizens’ free speech and privacy rights.” Crypto Briefing understands the regulator may be attempting to bring all aspects of crypto technology under its remit. That could mean requiring wallet providers to track user transactions in order to ensure that funds are not used for illicit purposes. Tightening the screws The proposal is one of many recent efforts to exert greater control over digital assets. In July, the FCA also proposed a blanket ban on crypto-linked derivative products for retail investors in early July. The regulator argued that these instruments were too complex for ordinary buyers to understand, preventing them from making informed decisions. The Financial Action Task Force (FATF)  – an intergovernmental policymaking body of which the UK is a member – formally proposed in late June that cryptocurrency businesses should be required to share user data. There is still little information on whether any open-source code would be exempt from the proposed requirement. The FCA has yet to provide any further clarity on the companies and scenarios that will be subject to it. Crypto Briefing approached the FCA for comment but did not receive a reply by the time we went to press. The post UK Could Require Wallets To Track Crypto Users appeared first on Crypto Briefing.
CryptoBriefing

Unstoppable Domains Offers Third Wave of Money and Manpower to Exchanges, Wallets and Browsers that Integrate .zil Domain

SAN FRANCISCO — 9.12.19 — Unstoppable Domains, a software company building domains on blockchains, today introduced its second installment of The Blockchain Domain Grant Program, leading into its third wave of potential applicants. For the latest round of grants, the Unstoppable Domains community selected Coinomi, the longest standing multi-asset wallet, CoinRequest, an adoption focused wallet simplifying day-to-day transactions, and Viewblock, a blockchain domain explorer. In addition to providing grantees developer support, Unstoppable Domains will provide each winning company with a stipend from the $250,000 allocation pool. Below is the complete list of grantees to date: Coinomi CoinRequest ViewBlock Equal Tech Counter Network Grants range from $5,000 to $15,000 and any wallet with a great community, regardless of location, is encouraged to apply. Grantees are selected through a public poll, and Unstoppable Domains announces winners to the community on a regular, ongoing basis. Community members may vote for as many as ten wallets during each polling session. Unstoppable Domains is a blockchain domain registry business that provides domains directly to consumers. To date, it has supplied more than 90,000 .zil domains to customers and companies. Blockchain domains allow users to receive cryptocurrency payments to a human readable name, instead of long addresses. Users can attach all of their cryptocurrency addresses to a single .zil domain. When someone types yourname.zil into an integrated wallet, the wallet looks up that domain on the blockchain, finds the appropriate address, and sends. It’s that simple! Blockchain domains are stored in a user’s wallet, just like a cryptocurrency. No third party can seize the domain. Users can point content stored on IPFS or other decentralized storage networks to their .zil domain, making a website takedown impossible. The combination of a blockchain domain and content stored on decentralized storage creates uncensorable websites. About Unstoppable Domains Unstoppable Domains is a San Francisco-based company building domains on blockchains. The company is backed by Draper Associates and Boost VC and has received grants from the Ethereum Foundation and the Zilliqa Foundation. For more information visit www.unstoppabledomains.com. Follow us on Twitter, and join the conversation on Telegram. Disclosure: This is a sponsored press release The post Unstoppable Domains Offers Third Wave of Money and Manpower to Exchanges, Wallets and Browsers that Integrate .zil Domain appeared first on NullTX.
NullTX

Unstoppable Domains Offers Third Wave of Money and Manpower to Exchanges, Wallets and Browsers that Integrate .zil Domain

Coinomi, CoinRequest, and ViewBlock Selected as Second Wave Winners SAN FRANCISCO -- 9.12.19 -- Unstoppable Domains, a software company building domains on blockchains, today introduced its second installment of The Blockchain Domain Grant Program, leading into its third wave of potential applicants. For the latest round of grants, the Unstoppable Domains community selected Coinomi, the […] The post Unstoppable Domains Offers Third Wave of Money and Manpower to Exchanges, Wallets and Browsers that Integrate .zil Domain appeared first on CCN.com
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Zcash Upgrades to Sapling

On 18 October, Monero integrated Bulletproofs as the core change in its latest Beryllium Bullet release. Yesterday Zcash, the runner-up to the largest privacy coin by marketcap, rolled out Sapling, a major network upgrade that introduces significant performance and functionality improvements to shielded transactions

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DIGEST

Tether destroyed 500 million USDT, Swissquote allows ICO participation, Coinbase added its first stablecoin, IDEX to block NY users, Vertex Ventures invests in Binance, the biggest crypto theft in Australia, Sony creates contactless hardware wallet, Japanese crypto exchanges got a self-regulatory status, Bitcoin Futures still lack volume — in this weekly news

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ESSENTIAL

Cardano claims to be a third-generation cryptocurrency that seeks to provide a scalable, interoperable and sustainable ecosystem with a two-layer architecture using a peer review-based approach to development

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Token Swap: Tether Announces Token Burn Of Over 400 Million USDT

Tether has shared a piece of information about a forthcoming token burn which according to announcement would take place shortly. According to a tweet from their official Twitter handle, Tether plans to shortly move 400 million Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. Tether will shortly move 400m Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. — Tether (@Tether_to) September 16, 2019 Tether Minted 300 million USDT Few Days Ago Few days ago, Tether took to Twitter to inform its users that it was coordinating with a third party to perform a chain swap. This was planned in order to convert some tokens from their original Omni to an Erc 20 protocol. At the time of the initial announcement, 300 million Tether USDt was announced to have been minted for the swap. However, these conversions took place few days ago as Tether promised the token swap wouldn’t disrupt the total supply. In few hours Tether will coordinate with a 3rd party to perform a chain swap (conversion from Omni to ERC20 protocol) for 300M USDt. Tether total supply will not change during this process. — Tether (@Tether_to) September 12, 2019 Whale Alert, a twitter account dedicated to alerting the community of big cryptocurrency transactions, noted the coinage described above in a tweet published on Sept. 12. As per a second tweet submitted as an answer to the first one, Whale Alert offered an explanation of the type of transaction: “This USDT mint is part of a swap. The corresponding burn on Omni has not taken place yet.” And finally, Tether is burning the Omni Tether that was already converted to ERC20. Until now, no token burn has taken place on Omni blockchain. In July, it was reported that Tether accidentally minted and burned 5 million USDT tokens. However, Tether long-standing controversy about issues relating to transparency and market manipulation. The post Token Swap: Tether Announces Token Burn Of Over 400 Million USDT appeared first on Coingape.
CoinGape

Zero-Knowledge Proof Solution from QEDIT Implemented Into Kaleido Blockchain For Transaction Privacy

Kaleido, a startup blockchain solution from ConsenSys Venture Studio has gone on record to become the first blockchain platform to implement the zero-knowledge proof solution from QEDIT—the crypto private company. A Non-compulsory Feature On September 13th, 2019 QEDIT shared a paress released with Cointelegraph where it stated that the partnership it had developed with Kaleido […]
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Cryptocurrency Exchange OKEx Korea Removes Privacy Altcoins

According to an official announcement made by the South Korean branch of OKEx, the popular exchange will delist five privacy coins as early as October 10, 2019. Complications for Privacy Coins Trading of Monero (XMR), Dash (DASH), ZCash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on OKEx Korea will be suspended on October 10, 2019,Read MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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