• Latest
Ether on Lightning Is the Latest Bridge Crossing Crypto’s Great Divide

Ether on Lightning Is the Latest Bridge Crossing Crypto’s Great Divide

November 5, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

Ether on Lightning Is the Latest Bridge Crossing Crypto’s Great Divide

coinnewsdaily by coinnewsdaily
November 5, 2019
in Tech
0
Ether on Lightning Is the Latest Bridge Crossing Crypto’s Great Divide
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

Ethereum developers are using the Lightning payments network to build bridges into the bitcoin ecosystem.

The venture-backed crypto startup Radar Relay, best known for its decentralized exchange (DEX) relayers for 0x, just launched a service called RedShift, which allows people to pay a lightning invoice from an ethereum wallet.

Radar product lead Brandon Curtis told CoinDesk:

“There are some people out there who want to be bitcoin maximalists or only work on ethereum things. But I think there’s a large, silent majority of us that are interested in multiple chains, in multiple assets, and want to build things that bridge between them.”

MetaMask wallet users with an in-browser widget can simply add a second widget to their browsers and paste a lightning invoice into the ethereum wallet, like a normal wallet address. On the back end, Radar will swap the ether for bitcoin and manage channels so the recipient is paid in bitcoin. This widget will eventually connect the user to a pool of market makers beyond Radar, Curtis said, and work for other ethereum-based tokens as well.

“Our number one request from [DEX] users and market makers was somehow adding the ability to trade bitcoin,” Curtis said. “[Bitcoin has] more liquidity and just a lot of holders, users, a lot of interest.”

Radar may see the move as a competitive differentiator as it jockeys for usage in the DEX space. Currently, IDEX and Kyber Network are the leading DEXs in terms of trading volume, according to Etherscan statistics.

Building bridges

Radar is now among a handful of projects working to connect various cryptocurrency ecosystems.

Indeed, the Cross-Chain Working Group is already building a system for wrapped bitcoin tokens that can be used on the ethereum blockchain. Plus, the Electronic Coin Company is working on bridges for zcash into the ethereum network, according to ECC’s VP of marketing, Josh Swihart.

Likewise, Arwen CEO Sharon Goldberg told CoinDesk her startup’s atomic swap and settlement service for centralized exchanges like KuCoin now offers ethereum mainnet capabilities.

“You can take some bitcoin, buy some ETH, and do that settlement without losing custody,” she said. “The way we’re doing it is free of any third party. We don’t have any pegs, or any of the complexity we’re seeing from some of the other projects. You’re actually introducing new counterparty risk with those types of things.”

Whether startups focus on sidechains, lightning or other layered protocols like Arwen, Radar’s Curtis said that bitcoin is still the best form of cryptographic money, due to open questions about how ethereum development will play out. However, from his perspective, bridges that allow flows of value into bitcoin from more experimental assets can add more value to the bitcoin ecosystem by opening it up to new users.

“Right now, the hardest part about lightning is the onboarding process,” Curtis said, adding:

“With tools like RedShift, we can allow people who already have digital assets to tap into the [lightning] network without all that setup.”

Team photo courtesy of Radar Relay

Credit: Source link

Share76Tweet48
Previous Post

Tradewinds, Canadian Mint to Verify Origins of Precious Metals on Blockchain

Next Post

Ripple Lawsuit May Still Continue for a long Time

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
Bitpay to Soon Add XRP Citing the Partnership with Ripple’s Xpring

Ripple Lawsuit May Still Continue for a long Time

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$28,826.002.42%
  • ethereumEthereum(ETH)$1,825.440.60%
  • tetherTether(USDT)$1.01-0.06%
  • binancecoinBNB(BNB)$331.16-2.08%
  • rippleXRP(XRP)$0.4461263.71%
  • cardanoCardano(ADA)$0.3838389.52%
  • dogecoinDogecoin(DOGE)$0.0773654.01%
  • matic-networkPolygon(MATIC)$1.161.00%
  • solanaSolana(SOL)$23.070.33%
  • polkadotPolkadot(DOT)$6.402.00%
  • shiba-inuShiba Inu(SHIB)$0.0000111.90%
  • tronTRON(TRX)$0.0679831.43%
  • litecoinLitecoin(LTC)$82.170.14%
  • daiDai(DAI)$1.00-0.04%
  • chainlinkChainlink(LINK)$7.674.84%
  • cosmosCosmos Hub(ATOM)$12.01-0.18%
  • leo-tokenLEO Token(LEO)$3.38-3.08%
  • ethereum-classicEthereum Classic(ETC)$20.951.08%
  • moneroMonero(XMR)$154.12-1.37%
  • okbOKB(OKB)$45.09-1.55%
  • bitcoin-cashBitcoin Cash(BCH)$134.421.35%
  • stellarStellar(XLM)$0.0935151.55%
  • filecoinFilecoin(FIL)$5.94-0.46%
  • crypto-com-chainCronos(CRO)$0.0716250.36%
  • vechainVeChain(VET)$0.0237240.80%
  • algorandAlgorand(ALGO)$0.2301795.97%
  • internet-computerInternet Computer(ICP)$5.290.70%
  • eosEOS(EOS)$1.17-1.22%
  • aaveAave(AAVE)$79.491.33%
  • elrond-erd-2MultiversX(EGLD)$43.56-2.04%
  • tezosTezos(XTZ)$1.18-0.47%
  • theta-tokenTheta Network(THETA)$1.050.32%
  • havvenSynthetix Network(SNX)$2.85-2.37%
  • neoNEO(NEO)$12.24-2.11%
  • paxos-standardPax Dollar(USDP)$1.01-0.03%
  • bitcoin-cash-svBitcoin SV(BSV)$37.883.06%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.84-0.61%
  • dashDash(DASH)$57.81-0.32%
  • huobi-tokenHuobi(HT)$3.99-2.27%
  • makerMaker(MKR)$687.200.11%
  • iotaIOTA(MIOTA)$0.2190210.73%
  • zilliqaZilliqa(ZIL)$0.0287271.04%
  • zcashZcash(ZEC)$36.362.02%
  • basic-attention-tokenBasic Attention(BAT)$0.2510091.18%
  • nemNEM(XEM)$0.0407982.78%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • qtumQtum(QTUM)$3.22-0.47%
  • kusamaKusama(KSM)$34.62-1.17%
  • compound-governance-tokenCompound(COMP)$45.511.15%
  • bitcoin-goldBitcoin Gold(BTG)$17.052.22%
  • yearn-financeyearn.finance(YFI)$8,979.633.10%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • omisegoOMG Network(OMG)$1.81-4.76%
  • golemGolem(GLM)$0.2460860.27%
  • wavesWaves(WAVES)$2.28-0.27%
  • sushiSushi(SUSHI)$1.18-2.79%
  • ontologyOntology(ONT)$0.2347880.24%
  • digibyteDigiByte(DGB)$0.0099560.27%
  • umaUMA(UMA)$2.08-1.70%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%