Two new cryp­tocur­rency de­vel­op­ments set to make waves

Sharp - - GUIDE: MONEY -

Ini­tial Coin Of­fer­ings

Fledg­ling star­tups are now seek­ing fund­ing for their blockchain-based en­deav­ours by cre­at­ing their own cryp­tocur­rency, which can be bought ini­tially as an in­vest­ment and then later used for pay­ments within their sys­tem. The ICO for Rent­berry, which aims to au­to­mate the process of sign­ing leases and pay­ing rent with smart con­tracts tech­nol­ogy, re­cently raised over $20 mil­lion.

The Light­ning Net­work

A fix for Bit­coin’s high trans­ac­tion fees and slow trans­ac­tion times, these ex­pe­di­ated pay­ment chan­nels will al­low low-risk trans­ac­tions to take place with­out hav­ing to be logged on the blockchain. Bal­ances will then be pe­ri­od­i­cally recorded to the main ledger as a way to fi­nal­ize all of the trans­ac­tions that have taken place in the prior time pe­riod. Cur­rently in a test­ing phase, it’s slated to be built it into the sys­tem later this year.

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