Synonym, a subsidiary of Tetra, a well-known supplier of Stabil Coin, successfully completed the first transfer of the Tetra Token (USDT) via the Bitcoin Lightning Network by mid-last week. This experimental transfer is a very positive move to prove the ability of bitcoin and the Latinization network to transfer various tokens in the fastest time and at the lowest possible cost.
According to Bitcoin Magazine, the bitcoin blockchain is a decentralized and unchanging network, and Lightning is a payment protocol that makes bitcoin more scalable. The Synonym Institute, which conducted the historic transaction, says adding various tokens to the Lightning network could boost innovation in the bitcoin ecosystem, as it will allow new assets to be launched using the features of this minor Chinese blockchain solution. In addition, future tokens to be offered on the Bitcoin Lightning Network will benefit from high protocol speeds and low fees, and users will have a better experience using China-based blockchain payment systems.
John Carvalho, CEO of the Synonym Institute, said two days ago when asked why “instead of using centralized databases and servers, you should choose the Lightning network for a token field”, “Centralized databases, as opposed to bitcoin. “They do not provide consumers with consumers. with digital tools that can be used to prove asset ownership. ”Carvalho said their company encourages consumers and developers to introduce new technologies and alternatives, and that the Synonym Institute will ultimately choose the best way to transfer Teter in the bitcoin ecosystem.
Read also: What is Bitcoin Lightning Network and how to use it + video
Synonymy recently took action using the Omni Layer, a bitcoin-based decentralized protocol and the OmniBOLT platform. Omni Bolt is a Chinese blockchain solution that can be used to circulate the assets offered by OmniLayer in the Lightning network.
According to the CEO of the Synonym Institute, Omni-based transactions are actually bitcoin transactions that involve metadata; This means that this method, unlike other protocols, does not require a separate blockchain.
The ability to transfer tetra via the Lightning network is not yet available to the public. Paolo Ardoino, Teter’s director of technological development, said there was still a lot of work to be done to develop OmniLayer and Omni Bolt, saying another Lauting network was ready to offer digital currencies in violation.
In the coming months, Synonym will release its wallet in the form of a mobile application and browser plug-in that will also support Lightning-based tokens and the Slashtags protocol. SlashTags is also a program of the Sinwin Institute, which, like Omni Bolt, has a design based on bitcoins and Lightning. In addition, another of the company’s products, called Blocktank, is expected to help provide the necessary liquidity for the Lightning network.
The publication The first transfer of the theater was made to the Lightning network; The historic start for bitcoin appeared for the first time in digital currency.