SAIHUB App Publicizes Assist for Bitcoin Lightning Community

SAIHUB App Publicizes Assist for Bitcoin Lightning Community

SINGAPORE, Aug 18, 2022 (GLOBE NEWSWIRE) — SAI.TECH World Company (“SAI.TECH” or “SAI” or the “Firm”, NASDAQ: SAI), a worldwide energy-saving Bitcoin mining operator and a -technology firm that integrates the Bitcoin mining, heating and energy industries, introduced that it not too long ago launched SAIHUB APP 1.1, which is suitable with the Bitcoin Lightning Community.

SAIHUB APP 1.1

SAIHUB APP 1.1 was formally launched this month with the brand new Lightning Community assist characteristic. Utilizing the SAIHUB 1.1 app, customers can not solely high up the on-chain pockets, but additionally make or obtain instantaneous off-chain funds based mostly on the second layer added to the Bitcoin Blockchain. Lightning Community helps the smallest transaction to 1 Cong (SAT) and even 0 Cong (SAT), which meets the big wants of customers’ actual transaction situation.

“Sooner or later, SAIHUB app will proceed to discover extra features based mostly on Lightning Community ecology to satisfy quite a lot of person wants, equivalent to instantaneous messaging, Lightning Community fortunate cash, Lightning Community-based weblog, and so forth.” Stated the founding father of SAI.TECH. and CEO Arthur Lee, “We consider that within the foreseeable future, the SAIHUB app guarantees a richer person expertise by constructing a extra open and practical ecology, whereas bettering effectivity from data switch to knowledge switch. price”.

Concerning the Lightning Community

In February 2015, Bitcoin builders Joseph Poon and Thaddeus Dryja revealed an article titled “Bitcoin Lightning Community: Scalable Off-chain Instantaneous Fee”, which launched the Lightning Community with the idea of “scalable off-chain fee” to the general public.

The Bitcoin community is designed to be decentralized and safe by registering ledgers at every Bitcoin node. It will require half of your entire hash charge community to govern the transaction log, which is sort of unimaginable to realize. Nonetheless, this recognition additionally comes with a shortcoming: the variety of transactions that the Bitcoin community can course of per second is proscribed by the velocity of every block technology and the scale of every block, which clearly couldn’t fulfill the rising ensuing transaction demand. of fast-growing Bitcoin house owners and customers. To resolve this drawback, the builders created layers on high of the principle community, the place the primary layer was the principle blockchain.

The Lightning Community is a second layer settlement based mostly on the Bitcoin community that encompasses a peer-to-peer system for micropayment channels that permit instantaneous transactions between taking part nodes, thus fixing the scalability drawback of the Bitcoin community. Typically talking, it’s a “inexperienced highway” constructed off of the principle Bitcoin chain to handle numerous small or high-frequency transactions with assured safety.

The Lightning Community was first applied on the Bitcoin community in 2018 and its use has grown considerably quick ever since. In response to Arcane’s newest Lightning Standing Report, the variety of funds has roughly doubled and the worth of funds has elevated by greater than 400% throughout 2021 (measured in USD). In response to at the moment’s real-time Lightning Community statistics of 1 ml (https://1ml.com/statistics), there are 17,783 Lightning Community nodes operating 86,854 channels, 4,567.33 BTC of community capability in whole.

About SAI.TECH

SAI.TECH is an energy-saving Bitcoin mining operator and cleantech firm integrating Bitcoin mining, energy and heating industries. SAI.TECH makes use of proprietary liquid cooling and waste warmth restoration know-how for its digital asset mining machines, utilizing waste warmth to supply recycled energy and heating to potential prospects whereas lowering mining working prices. SAI.TECH strives to turn out to be essentially the most worthwhile digital asset mining operations firm globally whereas selling the clear transition of the Bitcoin mining, energy and heating industries.

In Might 2022, SAI grew to become a publicly traded firm underneath the brand new ticker image “SAI” on the Nasdaq Inventory Market (NASDAQ) via a merger with TradeUP World Company (“TradeUP”).

For extra data on SAI.TECH, go to https://sai.tech/.

Media contact
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Investor Relations Contact
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