Etherium News

Crypto Mixed; Security Issues Found on Lightning Network

© Reuters.
© Reuters. – Prices of major cryptocurrencies were mixed on Monday without wild price movements.

On a quiet trading day, rose 1.49% to $9,758.6 by 11:34 AM ET (03:34 GMT). The digital coin had an uptick on Monday morning after hovering at the $9,500 range over the weekend.

Rising with Bitcoin was , which gained 2.06%. However, fell 1.17% and dropped 0.92%.

Reports over the weekend about security vulnerabilities found on Bitcoin’s Lightning Network have raised concerns among the traders.

Founded by Twitter CEO Jack Dorsey, the Lightning Network is an experimental scaling solution built on top of the Bitcoin Network for quicker fund transfers. But experts revealed security issues and warned of loss of funds.

“Security issues have been found in various Lightning projects which could cause loss of funds,” said software developer, Rusty Russell. “Full details will be released in 4 weeks, please upgrade well before then.”

Despite security concerns that could hamper the popularity of cryptocurrency, digital coins are set to go mainstream in Brazil, with 1.4 million point-of-sale devices fitted out to support crypto payment.

Brazil’s largest payment processing provider Cielo said users of its Cielo PoS devices will be able to make crypto payments via QR codes. Cielo president Paulo Caffarelli also revealed that its partner banks such as Bradesco are supporting the move.

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