Fidelity Investment Crypto Division
Takes Up The Bitcoin Torch
It isn’t a hidden secret that the Lightning Network, a second-layer option focused on alleviating the challenges Bitcoin faces with scalability, has seen significant levels of adoption as of late. The community has seen its maximum capability swell over the 700 BTC milestone, cementing its practicality as a system that offers cost-efficient, quick, secure, and more private transactions.
But this development hasn’t come unwarranted. Perhaps, Lightning’s unexpected rise in adoption has much to do with grassroots efforts, like Lightning Pizza and the ever-popular Trust Chain community effort, released by HODLnaut just weeks earlier.
It’s apparent that lightning has struck yet again. This time, Fidelity Investments’ crypto-centric arm, Digital Asset Services, openly accepted a Lightning Network transaction. On Friday, the cryptocurrency branch of the Wall Street giant, which has roughly $2 trillion in assets under management, participated in on the multi-week Trust Chain enjoyable, accepting a transaction for 3.64 million satoshis.
Seems like Fidelity, has officially cozied up to cryptocurrencies and related technologies, and is expected to launch its Bitcoin custody offering by March this year.
We’d be honored if you would pass the #LNTorch to our research arm, Fidelity Center for Applied Tech. We are ready with an invoice for 3.64M sats #LNTrustChain #LightningTorch
— Fidelity Digital Assets (@DigitalAssets) February 22, 2019
For those who missed out on the memo, Hodlona just recently took to his Twitter page to begin a fascinating community-run effort. Through the medium of a tweet, Hodl divulged that he wanted Bitcoin users to begin a chain through Lightning, whereas individuals would send marginally more BTC with each so-called “hop.”Just hours after Fidelity Digital Assets accepted the torch, it passed it onto the students at Harvard University blockchain club. This is quite fitting, particularly considering the rumor that Harvard’s enormous endowment has allowances in crypto- and blockchain-centric funds.
Harvard’s blockchain club and the previously mentioned Wall Street organization sign up with a variety of other big players in the cryptoverse that have actually taken part in the Trust Chain, that includes Anthony Pompliano, Klaus Lovgreen, John Carvalho, Marty Bent, leading Bitcoin evangelist Andreas Antonopoulos and Elizabeth Stark of Lightning Labs.
Twitter CEO, Enamored With Lightning Tech
Fidelity’s venture into the storm comes after Jack Dorsey, the chief executive of Twitter and Square, successfully started a crusade for this scaling solution.
For the seemingly millionth time in weeks, Dorsey has actually amazed the cryptocurrency space. This time, the Bitcoin fanatic tweeted out the statement of Tippin, a “game-changer application” that allows social networks users on Twitter to get BTC ideas for their tweets. Alongside the posted link was an easy, yet strong message: “This is excellent.” According to the link that Dorsey relayed to his following of millions, Tippin is a Chrome and Firefox web browser extension that allows for basic and effective Twitter tipping, offering content creators and personalities the capability to monetize their content further.
In weeks prior, he too accepted the torch, raising it in the Twitter air after he required to Joe Rogan’s podcast to claim that the native currency of the Internet is likely going to be Bitcoin.
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