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Bitcoin’s Lightning Network gains support from Zebpay; payment support in 131 countries

Priya

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Bitcoin's [BTC] Lightning Network gains support from Zebpay; payment support in 131 countries
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On 27 March 2019, Zebpay, one of the world’s leading cryptocurrency exchanges and wallet providers, announced Lightning Network support for all its customers. This service can be availed by customers in 131 countries to make Bitcoin [BTC] payments. It can also be availed immediately after signing-in on the platform and activating the Lightning tab.

The blog post read,

“We are excited to announce that Zebpay is launching its Lightning Network integration. Starting today, Zebpay customers from around the world can use the BTC balances on their Zebpay wallet to make payments in a flash on the Lightning Network.”

Lightning Network has been the most controversial topic in the Bitcoin community over the past few months. It is a second-layer protocol that enables users to make off-chain payments while backing on Bitcoin blockchain’s security. It allows participants to create channels to transfer Bitcoin without recording it on the blockchain.

Interestingly, the Singapore-headquartered exchange was marked as the first cryptocurrency exchange to integrate payments via the Lightning Network. The exchange stated that its users could make 10 transactions/per day “with amounts as low as 1 Satoshi.” The maximum transaction value allowed on the platform was set at 0.001 BTC.

Ajeet Khurana, the CEO of Zebpay, said,

“Making Bitcoin technology widely accessible is a key component of our roadmap. Today, with the integration of the Lightning Network, we have taken yet another step in this direction”

The platform asserted that its mission was to set crypto “free from the shackles of trading fees.” This was followed by the exchange claiming that it would bear all the cost of Lightning Network transactions for all its wallet transactions. The exchange is “committed” to keeping the “cost of adopting this technology low” for its users around the world, it claimed.



The exchange said,

“Crypto enthusiasts around the world can pay anywhere where Lightning is supported and buy virtually anything by identifying the store, copying or scanning the invoice of the product or service, and finalizing the payment  –  all within milliseconds.”

Recently, Lightning Labs announced the addition of Lightning Loop for the Lightning Network, in order to make the network more efficient, stable, and cheap. Lighting Loop is a non-custodial service that acts as a bridge for on-chain and off-chain Bitcoin with the help of submarine swaps.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

XRP

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

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Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
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Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:



Conclusion

XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.





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