Lykke Adds Scale to the Bitcoin Blockchain with Offchain Settlement
Posted: Tue Jun 13, 2017 1:51 pm
Cryptocurrency exchange Lykkeannounced today it has completed integrating offchain settlement capability into the trading platform. Offchain settlement is based on approaches introduced by Payment Channels and Lightning Network technologies.
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With offchain settlement, Lykke users can complete trades at substantially reduced settlement times and fees.
“The Bitcoin Blockchain is built to process about seven transactions per second,” said Richard Olsen, Lykke founder and CEO. “That translates to a settlement time of about 10 to 30 minutes per trade. But with Lykke’s new offchain settlement capability, trades are settled ... (read more)