In the latest crypto news, a Brazilian hacker is in the focus for building an actual vending machine that accepts Bitcoin payments and that is based on the Lighting Network (LN). Named Ricardo Reis, this computer programmer has been thinking of developing a machine like this for some time now.
As he explained his creation in a Medium post published a couple of days ago, the machine is actually a Bitcoin-enabled coke portal that used specific accessories to be built. Aside from his knowledge in programming and the supply of proper vending machine hardware that takes instructions from the user-interface, Reis also used the Lighting Network in order to enable faster and cheaper Bitcoin transactions.
Unlike many normal Bitcoin transactions which are recorded and verified on a public blockchain, the Lighting Network (LN) in this case adds a secondary layer to create a payment channel that does not require transactions to be confirmed by the main blockchain until the users close the channel. In other words, this means that users can make a series of the transactions without the miners’ confirmation.
Introduced by the cryptocurrency developers Joseph Poon and Thaddeus Dryja, the Lighting Network (LN) has been a great solution to Bitcoin’s slow on-chain transactions – and this machine is only one proof for it.
As Reis explained, the machine consists of a “Raspberry Pi 3 Model B, a Display 7″ Official Touch Screen Para Raspberry Pi, a Water pump RS 385, and a Bridge H L298N” in terms of its hardware.
When asked about the mix of software he used to create the Coca-Cola VM, Reis noted:
“In BTCPAY I create the invoice (payment button), so it generates a Lightning Network QR code for payment. I also set up a return URL (notification.php), which is the destination BTCPAY will inform when a purchase order has any changes, such as payment receipt.”
The 30% Share Battle: Hundreds Of Crypto Exchanges Compete For Market Share
“In a stagnant market, the head effect (a Chinese market concept similar to the 80-20 effect) is now more evident for cryptocurrency exchanges. The top 6 exchanges have over 3 billion in trade volume each and takes up 58.9% of the total trade volume. The top 14 exchanges have over 100 million in daily trade volume and takes up 73% of the total trade volume.”As we can all conclude from the above mentioned, the rest of the two hundred (or so) cryptocurrency exchanges only have in total - less than 30% of the entire market share. Moreover, the visits to these exchanges are declining month by month, just like the bitcoin and altcoin trading activity. Bloomberg had recently reported that the leading exchange, Coinbase, has been hit hard and that its consumers trading activity has decreased by around 80% compared to last December. According to other statistics from CoinMarketCap, Binance trading volume peaked in January 2018 and has fallen 80% since then.
South Korean Exchange UpBit to Launch In Thailand And Indonesia
“Both countries appreciate the growth potential of the cryptocurrency industry. Thailand and Indonesia are very interested in blockchain and cryptocurrency, so we thought it would be a good thing to have an online presence before launch.”Operated by Dunamu Inc. which is an affiliate of Kakao Corp. which operates the country's most popular chat app Kakaotalk, Upbit is affiliated with the US exchange Bittrex. As the news outlet shows, the exchange was also planning an expansion move overseas, quoting the CEO stating:
“From the outset of the Upbit business, the company had a blueprint to become a global foreign exchange, not limited to the domestic market.”The current websites confirm that Upbit will be available in Thailand and Indonesia soon. For Thailand, there will be 131 coins and 241 pairs listed - while Indonesians will benefit from 156 coins and 276 trading pairs, accordingly.
Bitcoin Falls To $6,300, Recording Two Sell Candles On Its Daily Chart
“High cap alternative cryptocurrencies starting to look bearish and not enough low caps are decoupling with BTC. This is by no means an ‘alt season.’ Better setups will likely come on 90% of alts out there, don’t rush into trades right now.”If Bitcoin drops below the $6,300 mark and makes its way to $6,100, tokens are also expected to suffer from a downward trend, especially in a period in which the US Securities and Exchange Commission (SEC) is cracking down on Initial Coin Offerings (ICOs) and projects considered as security offerings. Currently, Bitcoin is trading at $6,351.
New Study Says Demand For Crypto From Millennials Is On A Rapid Rise
“Anyone that has crypto tells me they wish they bought it sooner.”Her study on millennials revealed that more than 25% of them are already using or holding digital assets. Moreover, 30% of the respondents disclosed an interest in investigating and studying cryptocurrencies with plan to invest in the near future - which makes up to 55% of millennials who already invested or are planning to invest in the emerging asset class. The study also saw that millennials do not trust banks, mainly because of the inefficient systems and outdated models that fail to address the needs of younger investors. The use of cryptocurrencies by millennials in other markets such as the US, South Korea and Japan with established exchanges, payment processors and all types of crypto-friendly platforms is expected to rise as well. For instance, the government of South Korea has recognized cryptocurrency exchanges as a legitimate financial institutions and is leading many initiatives to convince young talents to enter this market, especially the blockchain industry.
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