Lightning Bitcoin (LBTC) Monthly Report — August 2019

Core Development Progress

1. The brand new iOS Wallet ‘Ibiza’ has been officially released. Ibiza is a decentralized wallet; the users may keep their private keys. User experience has been greatly optimized, new features including “send all”, “scan to pay”, displaying pending transactions and transaction fee. Meantime the transaction fee has been lowered, and errors will be recorded in the system log. In addition, according to the LBTC team, more features including customized token issuance and anonymous transaction with privacy protection will be introduced.

2. Android Wallet

Nickname feature added and consistent with the iOS version

News section and background data rules modification

3. iOS Wallet

iOS system super signature feature added, performance and compatibility issues fixed

Nickname feature added and consistent with the Android version

4. Underlying functions and expansion of the main net

Modify the nickname rules to adapt to the nickname format in mobile wallets

Transaction confirmation mechanism and irreversible block parameters optimized

5. Official Website Update

News interface nginx configured

News section launched

6. Bug fix

iOS wallet: conflicts in click event optimization and replication solved

iOS wallet: smoothness optimized

iOS & Android wallets: nickname repetition problem solved

iOS & Android wallets: data loss (when modifying the mobile wallet to resynchronize) issues solved

iOS & Android wallets: error message when removing all addresses solved

Developer Community

1. Thebes (a third-party block explorer for LBTC): mining node error fixed

2. LBTChome.com (a third-party news site for LBTC): image upload bug and plug-in bug fixed

3. Discord market: price bot added

4. Mobile wallet development: a new application from a community developer received

Community News

1、 In response to the recent 2GB network upgrade failure of the BSV blockchain and its problems, recently W.H.H, the core developer of LBTC, expressed his opinion on Twitter: BSV’s plan to increase block size to 2GB will cause severe centralization, raise the requirement of full nodes, and lower the efficiency of blockchains. Any bitcoin scaling based on PoW inevitably compromises to centralization, with a very limited marginal benefit.

2、 The U.S. LBTC community has built a major partnership with CryptoMico (www.cryptomico.biz), one of California’s major cryptocurrency communities. Recently CryptoMico has accepted LBTC as a new payment method, in addition to BTC, BCH, ETH, ETC and XRP. LBTC has a high-performance network architecture, with extremely fast transfer speeds, this is the main reason why CryptoMico is willing to accept LBTC payments.

3、 The U.S. LBTC community has established a partnership with University Express (https://www.uniexpresschina.com), a leading education consulting agency in North America. University Express has now accepted LBTC as a new payment method, in addition to BTC, ETH, ETC, LTC, XRP and USDT. Located in Los Angeles, University Express specializes in providing high-quality services to Chinese students applying for U.S. universities. LBTC’s global payment service, and high transfer speed as quick as Visa credit cards, is very convenient for both international students and local users in the U.S.

4、 According to the on-chain data, the number of active addresses and on-chain transactions of BTC continued to break its own record in August. By August 23, the average number of new addresses per day was around 100, and the total number of active addresses reached 46,874; and the number of transactions per day during the week was around 1,500, and the average number of transactions per day was over 31,000. Both of these data are close to the well-known on-chain governance project Decred (DCR) and cross-border payment project OmiseGO (OMG).

Social Media Data

Twitter: 5,100+

Telegram: 15,000+

WeChat: 6,300+

Weibo: 7,200+

Lightning Bitcoin (LBTC) is a decentralized global IoV protocol based on DPoS 3.0 consensus mechanism.