Lightning Network-capable Bitcoin Wallet Zap Will go in Public Beta Next Week

It looks as if Bitcoin users will soon be able to experiment with the Lightning Network. Zap, an LN-compatible Bitcoin wallet, announced its beta release not too long ago. This is a major development as far as Bitcoin scaling and improving transaction throughput are concerned. With SegWit activating in the near future, Zap comes at a most opportune time. This launch will help elevate Bitcoin to a whole new level in the near future.

The Zap wallet is still in beta, but provides some intriguing functionality. Bitcoin users can effectively access the Lightning Network through this program. Everyone wants faster and cheaper BTC transactions, after all. With the SegWit activation locked in on the network, the Lightning Network is within reach. The only hurdle left to overcome is making it more accessible by regular users. That is where Zap comes into the picture. It is good to see this project go into beta at this time.

Zap Beta is a Good Reason to Get Excited

It is evident the Bitcoin network needs to scale. Discussions regarding the how and when have been kicked around multiple times already. In fact, SegWit was introduced as a scaling solution nearly  a full year ago. During that time, multiple large mining pools effectively blocked this proposal. That situation has come to  change in recent weeks. Most pools came together t ensure this solution would activate. Right now, it is expected SegWit will go live in about a week and a half from today.

The Zap wallet provides everything Bitcoin users need. It has an intuitive interface and offers basic Lightning Network functionality. Users can send cheap and instant BTC payments, as one expects. Considering how apps are under development for the Lightning Network, a capable wallet is a definite must. Zap is the first project of its kinds to make things a lot more convenient. Rest assured other projects will follow a similar path in the future. The Lightning Labs team played a big role in bringing this wallet to the masses as well.

It will be interesting to see how bitcoiners respond to Zap. Many users want to play around with the LIghtning Network for obvious reasons. It may very well be the future of Bitcoin payments altogether. The app can be downloaded from the GitHub repo and includes a demo video as well. It is expected the code will be released in about a week from today. Bitcoin is firing on all cylinders right now, as all pieces of the puzzle fall into place.

Header image courtesy of Shutterstock

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XinFin, the Ethereum driven permissioned Blockchain network has announced the successful completion of its Africa awareness drive. Held across three nations — Botswana, Zambia, and Kenya, the drive was focused on familiarizing buyers, sellers, and financiers to the new TradeFinex platform.

The awareness drive and the following announcement about the launch of Internet of Things (IoT) projects were made in the latest press release. According to the release, the event at Botswana went on from 28th June until July 5th, 2017, while the Zambia program went on from 18th to 23rd July and the one in Kenya from 31 July to 1st August 2017.

The Africa Community Manager, Afrikanus Kofi Akosah Adusei was quoted in the releases stating,

“Infrastructure deficit in Africa is over 90 Billion dollars annually, and it has a lot to do with inefficiencies in trade and finance practices. Also, the fact that global trade and financing is still a loosely connected process tied to several risks. XinFin’s XDC token is a community driven digital asset designed to hedge risks in global trade and finance. Our upcoming TradeFinex platform will see a great participation from businesses in Africa.”

The company’s IoT projects are set to be implemented across Asia. One of the projects, as stated by XinFin includes the solar power plant in India. The project will be using the XDC platform to trade generated energy back to the grid. In addition to the solar project, the platform is also working on implementing IoT enabled transaction for garbage handling machines.

In the same release, the Head of Marketing at XinFin Alex Mathbeck said,

“We wish to make XinFin a fundamentally driven business platform that enhances the value and has real products to offer around the time of its ICO, which will be announced in a short while.”

With the ICO dates yet to be announced, Alex has mentioned that all the proceeds from the crowdsale will be used to fund its revolutionary projects while meeting all the required regulatory requirements.

Early bird investors can gain exclusive access to the XDC tokens much before the ICO. Those participating in the pre-sale and crowdsale can do so by using XinFin ewallet.

With the launch of its upcoming ICO, Soma, an Ethereum blockchain based C2C marketplace, aims to introduce first ever patient-pending Interactive Item Card (IIC) and an exclusive reward system. Soma connects trading communities via social interaction promotion. The Pre-ICO sale of Soma tokens just ended on August 10, 2017, while the Soma Community Token crowdsale is expected to start by the end of August.

What is patient-pending Interactive Item Card (IIC)?

Soma uses smart contracts to let its users develop IIC, a patent-pending feature, which enables creators to get the benefits of social contribution of interesting digital content, leading to a higher social value of the associated physical item, in return. These cards can be viewed as a digital representation of the physical items, letting storage of corresponding items to the blockchain. The data saved includes information regarding goods’ history, their quality, and price, etc.

The Incentive System

Being a decentralized platform, Soma intends to launch an exclusive incentive structure for higher user engagement. This feature leads to platform’s organic expansion. The Soma Rewarding System recognizes active participants as value-adding elements for promoting item cards for the target audience and acting as an escrow agent to secure all transactions.

The Soma ecosystem

Any user can create an IIC, which can be transferred along with transaction and related actual physical item within the community. The social value accumulated on item card keep rising, thereby, indicating a proportional increase in physical item’s value. This value is rewarded to the item card’s owner since Soma Community Token monetizes the social wealth within the community.

Soma Rewarding System, a central mechanism for a decentralized marketplace, incentivizes community members to carry out services that uphold an efficient and smooth functioning of Soma community, thereby, leading to platform’s growth. The community members can earn SCT by promoting IICs created by others, as a reward for such promotion. Users acting as a trusted third-party between seller and buyer can also get SCT. The Ethereum blockchain ensures transparency and centralized governance.

Soma Crowdsale

The Soma Community Token crowdsale is expected to start by the end of August 2017, in which 54 million out of 60 million SCTs will be distributed to participants. The remaining 10% will be reserved for advisors, founding team, and active community members. Tokens can be bought either by Bitcoin or Etheruem, while early investors will get a bonus of 25% for first 2 days, 20% for rest of the week, and 15%, 10% and 5% for 2nd, 3rd and 4th week, respectively. Participants will receive their SCTs in their ERC20 supported wallets.

To know more about Soma and its upcoming ICO, please visit http://soma.co/presale/

It looks like we have another interesting plot twist in the world of Bitcoin. A fake Twitter account claiming to be Craig Wright has been officially suspended by the social media company. Many people are confused about this, even though it isn’t his real account. It is unclear why the @realcraigwright handle is suspended from the platform, thought. The impersonation of a verified individual may have something to do with it.

Big was people’s surprise when the @realcragiwright Twitter account was suspended all of a sudden. To this day, many people believe the account belongs to Craig Wright. This man still claims to be Satoshi Nakamoto, yet has failed to provide any evidence thus far. The Twitter account in question always tweets about Bitcoin as well, but it is not his real account. Instead, that account can be found here.

Curtain Call for Fake Craig Wright Twitter Account

It doesn’t happen often such fake accounts are suspended from Twitter it is unclear what lead to this decision in the first place. Given the vast amount of followers this fake account has, it is likely someone reported it. Impersonating  a known individual is never  a good idea. Even though some tweets are posted as a jest, uneducated individuals would certainly consider it to be the real Craig Wright.

Although many people remain unconvinced Craig Wright is Satoshi Nakamoto, creating a fake social media account is something else entirely. While no harmful comments were made by this account, Twitter needs to take strong action against such operations. It is unclear if the account will ever come back or not, though. Suspensions of such accounts can last days, if not weeks or months. In most cases, the problem can be solved by proving the user is who they claim to be, but that will be pretty difficult in this case.

All things considered, this suspension will not affect Bitcoin in any way. People who want to follow Craig Wright need to keep an eye on his official Twitter profile. It is possible the fake account will return in the future, though. Never take anything coming from that person seriously by any means. Rest assured this incident will cause a fair bit of confusion for the foreseeable future.

Header image courtesy of Shutterstock

Everything we know about health care can benefit from blockchain technology. Especially when it comes to medical records, sharing patient information, and making data more interoperable. Right now, there are a lot of intermediaries involved in sharing patient data as very few systems are compatible with one another. The blockchain will effectively create a new model for the exchange of health information. Electronic records are the way forward. However, they need to be made more efficient, secure, and no longer reliant on intermediaries.

Overcoming all of those challenges will not be easy, though. A blockchain-powered healthcare ecosystem would raise the bar as far as interoperability is concerned. Eliminating friction and reducing costs associated with using current systems will create a healthier ecosystem for all parties involved. Now is the time to capitalize on this technology and its momentum.

Additionally, using blockchain will help in generating valuable insights. Being able to see the proverbial bigger picture will benefit both patients and healthcare personnel alike. Moreover, it will help improve the value of care as well. All of this will require a universal blockchain system connecting health care facilities from all over the world. Using private blockchains which only require approved partners to examine and share data is not a viable strategy for the healthcare sector by any means.

Dr. Rhea Mehta, the founder of Bowhead Health, a blockchain-based personalized health platform, spoke to NewsBTC about such possibilities, stating:

Dr. Rhea Mehta, Ph.D., CEO of Bowhead Health

“While digital technology has dramatically transformed the management of our financial information and transactions, most of us have not seen such gains when it comes to our health data. As the world watches the adoption of blockchain as a new model of decentralization and security for financial services, we believe the time has arrived when the health sector can finally offer the freedom to own our health data using a smart wallet to manage private and public keys with different levels of permission. This will enable patients to share data on an as needed basis with trusted providers.”

– Dr. Rhea Mehta

There are indeed economic, technical, and behavioral challenges that are faced by the current healthcare models. No one has built a large-scale blockchain ecosystem for the healthcare sector to date. That situation will come to change sooner rather than later, with companies (like Bowhead Health) working toward bringing blockchain technology to the medical sector as we speak. These unique opportunities need to be taken advantage of with properly developed proofs of concept.

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