Tag: Instant

Bitcoin Nodes Now One Step Closer to Instant Sync

coiner

Bitcoin light clients are now able to sync to the tip of the blockchain nearly instantly, thanks to a new development enabled by bitcoin startup ZeroSync and their work in zero-knowledge (ZK) proofs. Ultimately, ZeroSync seeks to enable full nodes to do the same. ZK proofs allow a prover to generate a short mathematical statement that proves to a verifier that a given computation is correct without revealing any details about such computation. Constructing this proof can be computationally expensive, but the statement it provides is always very compact, regardless…

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Federal Reserve Officially Launches Instant Payments System FedNow

coiner

In an announcement Thursday morning, the Federal Reserve unveiled that its instant payment system, the FedNow® Service, has officially gone live. This tool aims to empower banks and credit unions of all sizes to facilitate instantaneous money transfers for their customers. The Federal Reserve claims that FedNow transactions can be executed 24/7, 365 days a year. To start, 35 banks and credit unions, alongside the U.S. Department of the Treasury’s Bureau of the Fiscal Service, are among those already equipped to handle payments through the FedNow Service. Furthermore, a lineup…

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Strike Launches Instant, Cheap Remittances To Mexico Using Bitcoin Lightning

coiner

Strike, the global money app, has announced the expansion of its payment service, “Send Globally,” to Mexico, the largest market for cross-border payments from the United States. This move comes as cross-border payments from the U.S. to Mexico reach historic highs, with Mexico receiving a record $60 billion in remittances from the U.S. alone in 2022. By leveraging Bitcoin’s Lightning Network, Strike aims to provide a faster, cheaper and more accessible alternative to traditional money transfer providers in Mexico. With Send Globally, enjoy instant payments to a Mexican bank account…

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