Credit Sesame Secures $43M in Funding En-Route to its IPO

Coinspeaker Credit Sesame Secures $43M in Funding En-Route to its IPOThe household debt in the US continues to surge amidst various aspects that include the country’s trade wars with China. In Q2 2019, the debt hit a record $13.86 trillion which is a 1.4% increase from Q1. With that, credit health management has become an important tool for most households. Amidst that entire debt surge, a financial health startup Credit Sesame reported that it raised $43 million ahead of its scheduled IPO.Credit Sesame wants to expand the available tools to enable consumers to better handle their outstanding loans. Users can engage the service to check their credit scores and find solutions to improve their general financial health. Signs of the demand for Credit Sesame’s services are evident from its success to date.The Founder and CEO Adrian Nazari announced that the company is already profitable. He added that revenues are growing by 90% yearly since 2014. The CEO expects that this will be the last funding round before the company goes public. Even though the company’s valuation remained hidden, Nazari speculates that it might be more than $1 billion.Credit Sesame has not disclosed its valuation since the latest funding round is likely to have more money invested in it. Cumulatively, the company has raised around $110 million.The Funding ParticipantsThe funding was led by ATW Investors. Others include IA Capital Groups, Menlo Ventures, Stanford University, Inventus Capital, Capital One Ventures, Symantec, and Globespan Capital. Credit Sesame explained that the funding will be earmarked for artificial intelligence (AI) algorithms and business expansions.There exists competition from NerdWallet, ClearScore, Credit Karma, Equifax, Experian, and several others. However, Credit Sesame is confident that its unique approach will enable people to manage their credit score better than these competitors.Credit Sesame plans to make more progress in developing machine learning and artificial intelligence capabilities with this funding round. It aims to provide its customers with access to more personalized and actionable insights to improve their financial and credit health quickly and at scale.Also, the company wants to use some of the money to expand product, engineering, data science, and marketing teams in Mountain View and San Francisco offices. Many technologies are available in the current market for managing assets. But very few tools are available for consumers to manage the liability side of the balance sheet.Credit Sesame comes in to simplify the complicated calculus of the consumer’s qualifications, credit, and market offerings. The company ranks as the leading Personal Credit Management (PCM) platform for managing credit decisions for better credit and financial health. Its RoboCredit technology automates and simplifies the management of consumer credit and liabilities. Nazari said:“Our newly developed PCM platform ushers in a new era of Personal Credit Management with personalized analysis, machine learning and self-driving guidance to help consumers make the right decisions at the right time to better their credit and financial health.”The company excellently leverages aggregated data and advanced analytics at scale to offer consumers with customized, practical insights. These solutions assist consumers in the management and improvement of their credit and financial health. The CEO added:“Credit Sesame was the first company to offer consumers free and monthly access to their credit picture including their score and credit details. However, we quickly realized that access was only the first step. Consumers need guidance to understand credit to effectively manage and improve it.”Credit Sesame Secures $43M in Funding En-Route to its IPO

Stellar Lumen (XLM) Price Remains At Risk Of Larger Breakdown

Stellar lumen price is trading in a downtrend below the $0.0650 resistance against the US Dollar.
XLM price could accelerate decline if it breaks the $0.0600 support area in the near term.
There is a key bearish trend line forming with resistance near $0.0630 on the 4-hours chart (data feed via Kraken).
The pair could only recover if it breaks the $0.0630 and $0.0655 resistance levels.

Stellar lumen price is facing many resistances near $0.0650 against the US Dollar. XLM price remains at a risk of a significant decline if it breaks the $0.0600 support area.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price started a major decline from the $0.0720 resistance against the US Dollar. The XLM/USD pair broke many supports on the way down such as $0.0680 and $0.0650. Moreover, there was a close below the $0.0650 pivot level and the 55 simple moving average (4-hours). It opened the doors for more downsides below the $0.0630 level.
The price traded to a new monthly low at $0.0604 and it is currently consolidating losses. An immediate resistance is near the $0.0630 level. Additionally, the 23.6% Fibonacci retracement level of the recent decline from the $0.0720 high to $0.0604 low is also near the $0.0631 level. More importantly, there is a key bearish trend line forming with resistance near $0.0630 on the 4-hours chart.
If there is an upside break above the trend line, the price could test the main $0.0655 resistance area. The 55 simple moving average (4-hours) is also near the $0.0655 level. Moreover, the 50% Fibonacci retracement level of the recent decline from the $0.0720 high to $0.0604 low is waiting near the $0.0662 level to act as a strong resistance in the coming sessions.
If the price fails to climb above the $0.0630 or $0.0655 resistance levels, it could continue to move down. The main support on the downside is near the $0.0600 level. If there is a downside break below the $0.0600 support, the price is likely to accelerate its decline towards the $0.0550 support area.

The chart indicates that XLM price is clearly trading in a downtrend and it could decline further if it breaks the $0.0600 support area in the near term. Conversely, the price must settle above $0.0630 and $0.0655 to start a solid recovery in the coming days. The next major resistance above $0.0655 is near the $0.0720 level.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is currently just above the 40 level.
Key Support Levels – $0.0600 and $0.0550.
Key Resistance Levels – $0.0630, $0.0655 and $0.0720.
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Celebrity Boxing Champion Manny Pacquiao Launches Own ‘PAC’ Tokens

Coinspeaker Celebrity Boxing Champion Manny Pacquiao Launches Own ‘PAC’ TokensIn recent times and with the adoption of cryptocurrency growing at a steady rate, there has been no shortage of interesting entities – both corporate and individual – entering the cryptocurrency sector to be a part of the relatively new technology. Now, popular Filipino professional boxer and senator, Emmanuel Dapidran Pacquiao, aka Manny Pacquiao, has launched his own digital currency dubbed ‘PAC’ on the 1st of September, at a free concert held at the Philippine capital of Manila.Pacquiao who won against Keith Thurman to become the current World Boxing Association welterweight champion, performed music from his own album at the concert, which featured covers of many well-known love songs.Pac TokensPacquiao’s Pac tokens will reportedly be listed on Singapore’s Global Crypto Offering Exchange (GCOX) and is slated to be used by his millions of fans and supporters worldwide, for easy purchase of his merchandise, as a way to win “attractive prizes and rewards,” and also for communication with the boxing champion on several social media platforms.Apart from Pacquiao himself, the Pac tokens also has a few other private investors including English former footballer Michael Owen, as well as a key member of the Abu Dhabi ruling family, Sheikh bin Zayed al-Nahyan. The official website for the asset also mentions that the boxing superstar’s status and popularity will be leveraged for adoption of the tokens.“PAC Token (PAC) rides on the advantage of blockchain by transforming the popularity and brand of Manny Pacquiao into crypto tokens which are quantifiable and exchangeable. Millions of fans will now be able to get closer to their idol Manny Pacquiao by having access to his bespoke fan-celebrity programmes powered by GCOX.”The Global Crypto Offering ExchangeEven though 40-year-old Pacquiao has now gone into history as the first celebrity to release his own cryptocurrency, he isn’t the only one currently working on doing this. Reportedly, American singer Jason Derulo, as well as Tennis star Caroline Wozniacki, are also in the works with plans to release their own digital currencies as well. When both are ready, they will be listed on the GCOX, just like the Pac tokens.Jeffrey Lin, founder and CEO of GCOX, has commented on GCOX’s willingness to float these several assets. According to him, GCOX is not being driven by the potential profit from these endeavours. Lin said:“We are not here to raise a lot of money but to build an ecosystem.”GCOX’s white paper reveals that the service is powered by the Acclaim blockchain but also does mention that it has a design that will significantly benefit celebrities, tailored to whatever stage they are in their line of business.Last year, when it was announced that Jason Derulo was working on his own token, the GCOX Chief Communications Officer, Evan Ngow, suggested that many more celebrities would eventually become a part of the GCOX family. Ngow said:“We are committed to assembling a diverse, multi-talented array of stars at GCOX, and Jason will certainly not be the last musician to join our ranks.”Celebrity Boxing Champion Manny Pacquiao Launches Own ‘PAC’ Tokens

CoinMarketCap’s New Crypto Ranking System Kicks-In Starting Today

Coinspeaker CoinMarketCap’s New Crypto Ranking System Kicks-In Starting TodayThe crypto market has been largely cluttered with improper data feeding of fake trading volumes and activities like wash trading. Thus, to bring more transparency and reduce obscurity, crypto rating service CoinMarketCap brought a new system for cryptocurrency rankings.You've spoken, we've heard! We will be testing a change in our ranking methodology on Monday, Sept. 2, to represent all cryptoassets more fairly. Please see the full details here: https://t.co/oOFfcliqG5 😃 We look forward to your feedback!— CoinMarketCap (@CoinMarketCap) August 30, 2019With the new ranking methodology in place, CoinMarketCap says that “cryptoassets will have fairer representation in the ranking when comparing across all cryptoassets”. Upon testing the new system, the ranking of some coins dropped significantly failing to meet the criteria. In its new system, CoinMarketCap considers issues that weren’t taken into account initially. In the blog post last week, CoinMarketCap said:“This new change that we will announce next Monday will fix and streamline the rankings so that all cryptoassets will be fairly represented in the rankings. This will continue to be congruent with the previously-published methodology”.However, CoinMarketCap also noted that the new system for the liquidity evaluation of the crypto trading platforms will go live on November 12. The platforms will have the freedom to choose the data they want to submit to CoinMarket. However, their rankings will vary based on the amount and transparency of data provided. In the blog post, CoinMarketCap wrote:“Ultimately, this liquidity metric will factor into market pairs, and will be combined with other metrics that will go into the ranking of exchanges and projects. We are continuing to refine this based on feedback, and welcome more of your thoughts too.”It was earlier found that there was massive reporting of fake trading volumes giving a cryptocurrency undue advantage among its peers. However, with the new system, CoinMarketCap will rank 200 cryptocurrencies based on “Significant liquidity/trading activity” registered over a minimum of three crypto exchanges.CoinMarketCap accepts the fact that ranking cryptocurrencies solely on the trading volumes, was not the right move. Thus, to create a level-laying field the platform plans to introduce a liquidity-based metric. Some of the major benefits of having a liquidity-based metric, as mentioned by CoinMarketCap, include:Numeric: Returns a nominal number;24 Hr Rolling Average: Random time, regular interval polling of order book depth;Difficult to game: Dynamic polling depth based on liquidity of the cryptoasset;Cross Applicable: Applies to every cryptoasset as variables adapt to its liquidity.CoinMarketCap’s New Crypto Ranking System Kicks-In Starting Today

China Telecoms Readies to Enter Blockchain Game with 5G Mobile SIM Card

Coinspeaker China Telecoms Readies to Enter Blockchain Game with 5G Mobile SIM CardChina Telecoms has finally decided to come into the blockchain game with an innovation that could be the game-changer for the Chinese. They have indicated plans to develop a 5G Mobile SIM card that can actively participate in a mobile-oriented blockchain.This disclosure was made at the recently concluded 2019 China International Intelligent Industry Expo by the China Telecom Blockchain and Digital Economy Joint Lab.Leading Chinese finance website Sina described the event with the introduction of the full details of the plans in a white paper by China Telecom. According to Sina:“The white paper describes a blockchain application ecosystem created by China Telecom, which uses the unique decentralization technology to lead the new revolution in the digital economy, providing a more secure hardware infrastructure for 5G mobile phones, making 5G mobile phones gradually become decentralized computing and data. The nodes form a new value transmission network that shapes the mobile phone using a secure ecosystem”.The First Blockchain of its KindThe paper further went to describe the blockchain as being able to run and execute Ethereum ERC 20 compatible tokens which can execute smart contracts in real-time. Each mobile phone connected to the blockchain will serve as a node that can settle all kind of transactions within it.The paper also considered the limitations of hardware and software, looking at how best they can be used optimally. The paper further explained that a 5G SIM card which is the access point for a blockchain ecosystem had already been developed by the Chinese Telecom blockchain and digital economy joint lab.Key Issues ConsideredThe paper was broad-reaching and considered a wide variety of factors that must be in place before such technology can be fully operational in times like these. The first of those was the fact that the SIM card is just the first point of entry in the blockchain ecosystem.The second point considered was the fact that different kinds of hardware and software will be able to access the blockchain. This, of course, comes as a breath of fresh air as most hardware and software manufacturers haven’t been able to fully implement multi-modal blockchain access.The third point raised was the focus on security. The Lab has already considered switching to the blockchain in real-time without all security concerns handled. With real-time safe mode and artificial intelligence and big-data considerations factored, this blockchain is exactly configured to protect the user.We all know that the Chinese aren’t exactly keen on cryptocurrencies and blockchain technology, we know that they do want to play big in the 5G space. This is because whoever wins the 5G arms race OWNS the future.Other Blockchain Phone Technologies Exist but Don’t Quite Cut itIsraeli-based Sirin Labs late last year released the Sirin phone. With all the cool features that any cryptocurrency enthusiast should have, the issue that the phone faced was one: the basic attention paid to it’s token.With a central focus around its token SRN, the phone has limited applications within the general crypto-space.Another one that follows in the same vein is the HTC Exodus 1s. This phone was supposed to change the game as regards Bitcoin transactions with full status on the Bitcoin blockchain. There were two major challenges to this goal: space, security and network speed.The Bitcoin blockchain is very heavy data-wise. Large SD-cards are needed to become active nodes on the blockchain. As regards security, the blockchain keys can be accessed if the phone got stolen physically. Network speed variations on the 4G spectrum will limit the ability of the phone o have full functionality to the blockchain.The Chinese seem to know what others don’t: to be the future, you have to see it and get there first before anyone else.China Telecoms Readies to Enter Blockchain Game with 5G Mobile SIM Card

Ripple Price Analysis: XRP Trading Near Crucial Breakout Juncture

Ripple price extended its decline and traded below the $0.2650 support against the US dollar.
The price is currently holding the $0.2460 support level and is preparing for the next move.
There is a crucial bearish trend line forming with resistance near $0.2580 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
The price could either climb above $0.2600 or it might continue to decline towards $0.2400.

Ripple price is trading below a few key resistances near $0.2600 against the US Dollar. XRP price is currently preparing for the next key break either above $0.2600 or below $0.2460.
Ripple Price Analysis
This past week, there were additional downsides in bitcoin, Ethereum, bitcoin cash, EOS and ripple against the US Dollar. The XRP/USD pair failed to hold a couple of important supports near $0.2650 and $0.2640. Moreover, there was a break below the $0.2600 support and the 55 simple moving average (4-hours). It opened the doors for more downsides below the $0.2520 support level.
The price traded to a new multi-week low at $0.2468 and it is currently correcting higher. It traded above the $0.2520 and $0.2550 resistance levels. Moreover, there was a break above the 23.6% Fib retracement level of the recent decline from the $0.2800 high to $0.2468 low. However, the price is facing a strong resistance near the $0.2600 level (the previous support).
More importantly, there is a crucial bearish trend line forming with resistance near $0.2580 on the 4-hours chart of the XRP/USD pair. The next key resistance is near the $0.2620 level and the 55 simple moving average (4-hours). Moreover, the 50% % Fib retracement level of the recent decline from the $0.2800 high to $0.2468 low is also near the $0.2630 level to act as a resistance.
If there is a successful break above the $0.2630 resistance and a close above the 55 simple moving average (4-hours), the price could start a decent recovery. Conversely, the price could decline further if it fails to break the $0.2600 and $0.2630 resistance levels. On the downside, the main support is near the $0.2460 level.

Looking at the chart, ripple price is clearly preparing for the next major break either above $0.2630 or below $0.2460. As long as the bulls are defending the $0.2460 support, there are high chances of an upside break above $0.2600 and $0.2630. Conversely, the price could decline towards $0.2200 if it breaks $0.2460.
Technical indicators
4 hours MACD – The MACD for XRP/USD is struggling to gain pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is still well below the 50 level.
Key Support Levels – $0.2500, $0.2460 and $0.2400.
Key Resistance Levels – $0.2600 and $0.2630.
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Bitcoin ATMs Prove Useless In Ill-Planned Crypto Hacking Case

In what could arguably be considered the worst bitcoin heist in cryptocurrency history (at least, that’s what some analysts are saying), scammers attempted to con users of bitcoin ATMs in Canada using phony, homemade out of order signs.
 Bitcoin ATMs Served Little Purpose in This Case
How does that work, exactly? It seems like people who see a sign that says “out of order” would be deterred from using the machine. They’d turn away and try to utilize another machine or decide against their transaction. Well, apparently things didn’t quite stop there. These allegedly non-functioning machines also came with signs asking customers to scan a QR code that was attached to the machines so that they could “still purchase bitcoins.”
The idea was that anyone who bought bitcoins through the QR code would attach themselves to a bitcoin address owned by the thieves. Thus, any money unsuspecting persons bought would ultimately wind up in the hands of the criminals.
One can see from first glance that this con makes no sense. You put a sign on a machine saying “out of order” to give people the impression that any time spent on or with the machine is wasted, yet you still ask them to scan a code so they can purchase more crypto units? People proved “too smart” to fall for this ridiculously silly ploy, and the hackers have thus far walked away with nothing.
The good news is that only two signs were hung on two different machines, so the hackers didn’t try to initiate anything too serious. Maybe they, themselves, didn’t entirely trust their own plan or lacked confidence somehow.
Nevertheless, the police still got involved in the case and put up warning signs on the machines granted anybody couldn’t fully understand what was going on (thankfully, this wasn’t the case).
 Usually, Crypto Theft Has Had More Brains Behind It
This isn’t the first time that scammers have utilized cryptocurrency ATMs to get their fingers on funds that weren’t theirs. A similar scenario occurred in Australia last year, when cybercriminals tried to scam immigrants who were using bitcoin ATMs. The ploy involved telling the immigrants to place fiat money into a bitcoin ATM and convert it to cryptocurrency, which they would then have to send to a specific cryptocurrency address. This would serve as a special “tax debt” and excuse the immigrants from deportation.
Most other forms of cryptocurrency theft occur in ways that are more complicated, such as SIM-swapping or phony initial coin offerings (ICOs). The former involves bribing employees of a person’s cellphone provider to garner their passwords and user information for mobile accounts (i.e. crypto accounts), while the latter involves raising money for a new venture or startup only to make off with the funds before the business ever comes to fruition (probably because it never existed).
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Mexico and BTC May Get “Closer” in the Coming Months

The Mexico economy is slated to be in a very poor state according to most financial analysts, and many are wondering if the country will soon boost its relationship with bitcoin as a means of getting itself out of the financial gutter.
Mexico and BTC: A Solid Match?
This must be taken with a grain of salt, of course, for two very big reasons. The first is that bitcoin, at press time, is trading for just over $9,600. Nobody has been able to explain why the granddaddy of crypto suddenly dropped more than $600 in less than 30 minutes earlier this week. It was originally trading at a “solid” $10,200, but later fell to a new weekly low. Why has bitcoin suddenly become so vulnerable to volatility following a solid run in early 2019?
Second, one can’t help but wonder if Mexico’s economy is truly as bad as analysts claim. The United States places over $300 million a year into the country’s infrastructure in the hopes that officials will potentially build jobs and businesses and bring the country out of the doldrums. Naturally, there is some benefit to Americans if this happens. To be able to do business with a neighbor to the south presents many solid financial and business opportunities, especially for manufacturing.
It also gives the U.S. a road out of China, which the country is currently engaged in a serious trade war with. Granted it can move some of its manufacturing sites to a country that’s much closer, the U.S. stands to benefit greatly.
However, the word on the street is that Mexico is losing much of its financial stamina. In many ways, the country is suffering from what’s called a “technical recession.” The nation, following some severely negative financial policies, has seen its economic growth die down two quarters in a row.
President Andrew Manuel Lopez Obrador doesn’t appear to be worried, however, recently exclaiming:
 Now that there is growth and better income distribution, most Mexicans have more purchasing power. That’s why I’m not very concerned about the matter.
Mexico is one of the highest-ranking remittance countries in the world, meaning many out-of-state workers are sending money back home, but Mexican banks charge heavy fees (as high as seven percent in some cases) to do this. Thus, bitcoin is looking more and more comforting to many Mexican workers.
 Giving People the Help They Need
The cryptocurrency would allow some of the nation’s poorest people to lose less money each time funds are moved around. In addition, any platforms allowing them to pay with bitcoin would relieve them from all dependence on costly transaction platforms.
Lastly, more people in Mexico will be given a solid opportunity to store value and boost their net worth, thereby improving their living situations and boosting the country’s financial stability.
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Send BTC To People You Admire with Tippin

If you’re looking to potentially tip people in bitcoin and give them something special for their services, a new app called Tippin is available for use.
Tippin Can Bring BTC Tips to the Masses
The application occurs over Twitter. Users can send BTC via tweets and through the Lightning Network should they choose to utilize their mobile phones instead of their computers. This coming week, an alpha version of the platform will be available for a testing phase on Android devices. These devices will also come equipped with Lightning Network enabled wallets. The company has also said that it’s looking to release an iOS version of the app in the coming weeks, but users can test out the demo they’ve prepared via Twitter.
Anyone who utilizes Twitter can be tipped or do the tipping themselves. The application originally started out as a “browser extension” launched in February of this year by Sergio Abril, a Spanish architect who refers to Tippin as a very “personal project.” It appears the app has already gained an astounding 14,000 users following heavy praise from Twitter and Square CEO Jack Dorsey. Many fans are certain that the application will push bitcoin well into mainstream territory.
The use of the Lightning Network allows bitcoin payments to occur speedily, ensuring customers earn their money in a matter of minutes, rather than hours or days. Bitcoin is often referred to as the slowest blockchain available today given its age and position in the crypto space, and the Lightning Network – while still relatively new – has worked to ensure bitcoin enthusiasts garner their funds at faster rates.
As great as all this sounds, Tippin is likely to experience some fierce competition down the line. In early August, the makers of the Brave browser – an allegedly much more private internet search engine – added their own tipping application to Twitter that allowed people to tip others in Basic Attention Tokens, otherwise known as BATs.
Interestingly, while both platforms are likely to garner a lot of attention in the coming months, bitcoin and cryptocurrency tipping is nothing new. The concept has been around virtually since 2014 as one can see by online chat forums such as Quora in which enthusiasts delve into the idea of tipping people with BTC during a time when the cryptocurrency was barely trading in the $1,000 range.
 Why Hasn’t This Been Utilized?
The ability to tip others in BTC was technically available during this time, yet it wasn’t particularly common, and the idea that a social media conglomerate like Twitter would later add such capabilities to its own platform was unheard of.
Even when Tippin first came out last February, Twitter was reluctant to bring the app aboard. The company suddenly changing its mind is clear evidence that the currency is garnering stronger attention and moving up the financial ladder.
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Why Lightning Network Can’t Get Massive?

Coinspeaker Why Lightning Network Can’t Get Massive?It was December 2017, the Bitcoin was at almost 20k US dollars and I had just made my first transfer of 100k satoshis to a friend. The satoshis were supposed to arrive in minutes; however, it arrived in 2 days.The disappointment was huge. It was the first operation that me and my friend handled with Bitcoin and we did not understand what happened. The magic did not occur as expected.In those 2 days we were like crazy complaining with the virtual wallet and they told us that it was possible that the Bitcoin blockchain could be saturated. That blew our minds because we thought it was prepared for that, but it was not.Days after the confirmation of the transaction, when the Bitcoin’s price started to dive, I could really understand what was going on: Bitcoin’s blockchain wasn’t prepared for such a huge demand of transactions at that moment, so it naturally created a queue that I felt that last forever.At that time (December 2017), Bitcoin was in everyone’s mouth and more and more people wanted to enter the system but the Bitcoin blockchain did not want them.But let’s explain it better starting with the definition of Bitcoin’s blockchain.Whats Is Bitcoin’s Blockchain and How Does It Work?The blockchain is a shared public accounting on which the entire Bitcoin network is based. All confirmed transactions are included in the blockchain. In this way, Bitcoin wallets can calculate your expendable balance and new transactions can be verified, ensuring that the payment is being made to the person making the payment. The integrity and chronological order of the blockchain are enforced with cryptography.Here’s a video that can help you understand it better:Bitcoin’s blockchain has a very important limitation: it only works 4-6 blocks per second. In simpler words: It only can manage between 4 to 6 transactions every second.To give you an example of the capacity that Bitcoin should have to really cover the demand that it has, Visa’s worldwide network has a maximum of 56k transactions per second.Yes, at that time it was the cryptocurrency bottleneck and therefore the entire industry, until Joseph Poon and Thaddeus Dryja published the Lightning white paper in January 14th 2016 and saved Bitcoin from being displaced as an alternative for payments.What Is Lightning Network About?Lightning is a specific payment protocol that allows fast transactions between people (nodes) that are part of the network (blockchain) that use Bitcoin. And when I say fast I mean seconds or in the worst scenario few minutes.Here you can see this detailed video to make it more clear:Well, the white paper of Lightning Network was published in 2016, tests were done in December 2017 and until it was officially launched from March 2018, so then what?Why Lightning Network Can’t Skyrocket Bitcoin’s Usage?From April 2018 to August 2018, Bitcoin Lightning Network had a monthly growth rate of approximately 15%. The number of nodes increased from 1,500 to 3,000, and the number of channels increased from 4,000 to 11,000.It’s important to mention that a number of altcoins such as GroestlCoin, Syscoin, Vertcoin and Litecoin now support the Lightning Network scaling protocol in their blockchains.Here is a real-time lightning network statistics (January 2019):Photo: BITRSS Crypto and Bitcoin World NewsNow a year later, statistics indicate that the scaling solution for the Bitcoin network called Lightning Network has shown quite satisfactory performance. However, there are discrepancies between some sectors of the cryptocurrency community, which are not as happy as others with what has been achieved so far.Depending on who you ask, Lightning Network is a resounding success or failure that threatens to destroy Bitcoin’s own fabric. In the cryptocurrency community, there are divided opinions regarding the effectiveness of the scaling solution. The positions range from that the improvement achieved by Lightning Network is impressive until now the network is centralized and controlled by banks.No statistical chats have been published that shows at least the % of people who use lightning compared to the universe of people who use Bitcoin worldwide or something similar, weird right?But if really lightning were used by many people, it would have an immediate and sustainable effect on Bitcoin’s price, which currently has no such impact.On the other hand, seeing the behavior of people when they are interested in something new like Bitcoin and even newer like lightning technology, people (in a massive way) will never be interested in lightning if Bitcoin’s price does not rise steadily before. It’s that simple.People who are already within the crypto world may be interested in lightning but the global effect will be very little.Here I leave only 2 statistics about it that proves what I said:There are 7.1 million active Bitcoin users.About 32 million Bitcoin wallets had been established worldwide in December 2018.Here is a video to have a better look at this stats:Why Lightning Network Can’t Get Massive?