Bitcoin [BTC] wallet Zap, the Lightning Network wallet gets new features
Bitcoin [BTC] wallet Zap enables sending and receiving payments instantly and for free. Zap, by developing on top of the Lightning Network aims to improve Bitcoin’s scalability issue. Zap’s founder Jack Mallers tweeted that a few improvements have been made on the Zap wallet. The new features apparently give the existing version added functionality. Bitcoin, the world’s first cryptocurrency has seen a severe fall in price this week.
Moreover, they are also testing out new technology like ‘neutrino’ to help with the same. The Lightning Network is a decentralized network enables instant payments across a network of participants. This is done by using smart contract functionality in the Blockchain. And because of this, Lightning is touted to be a Bitcoin/Blockchain transaction network that is scalable and instant.
The Lightning Network is an open protocol layer which makes transacting cheaper and faster using the power of Blockchains and smart contracts. This brainchild of Lightning Labs ensures that anyone in the world can conduct private transactions. Lightning ensures that the secure network of participants on its network can transact at high volume and high speeds. This is because of the use of real Bitcoin/Blockchain transactions and its native smart-contract scripting language.
Its extreme popularity has made the Bitcoin Blockchain an extremely congested, slow network. At present, only about 7 transactions get confirmed per second on the Bitcoin Network. As the overworked network slowed, the mining charges have gone up, leading to increased transaction fees. This means that sending small amounts of Bitcoin is no more a viable option. This is where the Lightning Network steps in.
Zap’s new Features
‘Zap Connect’ is one of the new features on the Zap wallet. Users can connect to their home desktop node from their cell phone via the QR code provided by ZAP Connect. So the user can connect to any node remotely with the LN node on the phone by scanning a QR code. The Zap LN iMessage widget is another new feature on the Bitcoin wallet. Users can send invoices as text messages through this feature. And the recipient can make the payment by just clicking on it. According to Jack Mallers, it enables instant transactions with no fees.
He tweeted saying,
“And this will all be open source and free of course. Just getting around to open sourcing the iOS stuff and putting a beta on the app store. Should all happen soon.”
Image via shutterstock
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