What is the Lightning Network and What Does it Mean for Cryptocurrency Technology?
Bitcoin amazed the global trading community during its historic run to $20,000 in 2017. Within a single calendar year, Bitcoin saw a nearly 20x rise in value. Those who were using Bitcoin for payments and other financial transactions noticed something else, however: because the network had grown so busy, transaction processing times began lagging and the cost of mining fees increased substantially. In other words, Bitcoin needed to scale to accommodate this new interest that significantly increased Bitcoin transaction volumes. Fortunately, a powerful new scaling solution was in the works and about to be unveiled: the Lightning Network.
Let’s take a closer look at what the Lightning Network is, how it came to be and the role it is expected to play in the future of cryptocurrency.
What you Need to Know About Canada’s Proposed Cyptocurrency Regulatory Framework
Could the Canadian government be on the verge of adopting one of the first comprehensive regulatory framework for digital currencies?
That’s the question on cryptocurrency traders’ minds following a major announcement from two Canadian regulatory groups. The Canadian Securities Administrators (CSA), which is comprised of all of the provincial securities regulators, and the Investment Industry Regulatory Organization of Canada (IIROC) have outlined a joint proposal for the regulation of cryptocurrency trading.
The framework proposal is open for commentary from industry participants and concerned parties until May 15, 2019.
Toronto Blockchain Week
Last week’s Toronto Blockchain Week drew together more than 1,300 global business leaders, entrepreneurs, artists, creators and thought leaders, which only helped solidify Toronto’s position as a global leader. “We have worked relentlessly to build Toronto up as an attractive place for innovators and entrepreneurs by supporting an innovation-friendly business environment and livable communities,” Mayor Tory said in a statement.
Canada — and Toronto in particular — has a once-in-a-generation opportunity to achieve a better future by building a platform for the new digital economy with blockchain.
Bitvo had an incredible time attending many events throughout the week and co-hosting A Look Inside Digital Asset Platforms: Regulation, Trading and More with Dentons and Bitbuy! Bitvo had the opportunity to showcase what our trading platform can do, while meeting and networking with so many fantastic participants in the space! We look forward to next year’s event!
The Alberta Blockchain Consortium (ABC)
The ABC was founded to give a unified voice to blockchain technology and to support local economy by making Albertans aware of the opportunities this revolutionary technology has been and continues to create. The ABC is dedicated to being a driving force to propel Alberta’s innovation to the world stage and help bring economic prosperity back to our region.
Do you have a blockchain event happening here in Alberta? ABC supports and promotes your events, while simultaneously letting Albertans know all the incredible things happening in the blockchain space! Let the ABC support you and promote your business.
The ABC hosts events every first Thursday of the month in Calgary! Tickets always go quickly so make sure to reserve yourself a seat. Get ready for an evening of delicious wine, quality cheese, and great discussions around Alberta & blockchain!
Bitvo is a proud supporter of ABC. Come out and meet the Bitvo team at the next ABC event!