Bitcoin transaction accelerates with Spark wallet using Lightning Network 22019
News
Ashmita Dutta
Aug 30, 2018 at 2:30 PM

Spark wallet, latest technological development expedites transaction of Bitcoin, its receiving and sending leveraging Lightning Network. The Ligtning Network enhances the growth and speed of transaction among the nodes. These technologically based endeavours are fundamentally directed towards making transaction of the top most cryptocurrency, Bitcoin in the crypto domain in an affordable, more secured and at a faster rate.

The new wallet app named Spark is a graphical user interface [GUI] based on web. It shares compatibility with MacOS and Electron app meant for he Linux Windows. In the near future, this wallet app will also be supported by iOS. Currently, Android mobile app is also used with it.

A primary feature of Spark wallet is that it allows the users to conduct off-chain transactions in the Lightning Network. The technical detailing explicitly states that it is a completely off-chain wallet. Nadav Ivgi, the Bitrated founder, the BitcoinEmbassy TLV ambassador and a developer has posted on Twitter, "The setup is a running c-lightning node on a server at home or on the cloud, which you connect to remotely from your phone. Your phone doesn’t have to be online, but the server does. The server can provide several wallets."

 

Bitcoin Lightning Network has pledged to improve itself such that it can upgrade its transaction from millions to billions each second conducted across the entire network. A decentralised system of the network enables the users to execute trustless channels of micropayment for carrying out one or more payment off blockchain system.

Once the completion is achieved, the transaction gets broadcast to the blockchain technology as one single transaction. On the closure of the transaction channel, transcription of all the transactions are made on the Bitcoin blockchain platform. The expansion of the Bitcoin Lightning Network takes place in an exponential manner.

Bitcoin transaction accelerates with Spark wallet using Lightning Network-BCFocus

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