LightSpeed Transfers

Send and receive instant international bitcoin payments for free. We offer the cheapest, fastest, and most secure way to get instant payments and get full access to the Bitcoin network.

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Inspiration

In today's world, money and its supply, is controlled by unelected bureaucrats operating a government backed banking cartel with no real constraints on its power. Bitcoin is completely decentralized, which means it records transaction on a distributed ledger called a blockchain, which is the most secure networks in the entire world. Bitcoin is not owned or controlled by one person, which makes it the perfect digital currency to use. When I recently started investing in bitcoin, and cryptocurrency in general, there was a lot of hype around it, a lot of talks about how this is going to be the future. But there was always some level of hesitancy, about how will it be possible to make this digitalized currency be applicable everywhere. Currently, 1 bitcoin is trending at $70,000 CAD. How will it be possible to pay for something as simple as a coffee when one bitcoin is worth so much money? This is where LightSpeed Transfers comes in.

What it does

LightSpeed Transfers is an application that uses the Lightning Network, also known as "layer 2 solutions". It features a solution to the Bitcoin scalability problem, which is the limited rate bitcoin can process transactions. It often takes hours to simply just transfer bitcoin from one wallet to another. LightSpeed enables fast transactions among participating nodes and features a peer-to-peer system for making micropayments of cryptocurrency through a network of bidirectional payment channels without delegating custody of funds. Along with this huge benefit, LightSpeed Transfers also has amazing different features. It can be used as a wallet to store Bitcoin, buy/sell/trade bitcoin directly by adding funds from your bank account whether it is through debit/credit cards, PayPal, Interac, etc. It also features a real time graph and price for bitcoin, meaning that you will be buying your crypto without any added commission or fees. In the current world where privacy is a big issue, LightSpeed has taken that into consideration as well, as the details of individual lightning network payments are not publicly recorded on the blockchain.

How I built it

I have had experience building different apps in different programming languages and softwares, which is what really helped me get the layout. I wanted to create an user interface which was really simple to use. Even someone who is hearing about crypto for the first time can easily use our app. C was used to write blockchains, and Storj was used as a cloud service to store the transactions taking place. R, SQL and Python were used for data management, to not only tidy up the thousands of transactions taking place every minute but also to provide real time graph and prices to our users. Proto.io was really useful in having a demo set up before the app is launched worldwide, so we can get feedback from our users and implement any new changes if they are suggested.

Challenges I ran into

I faced a lot of challenges while building this app, particularly with the idea of being able to make it unique from other apps that provide similar services, so we could attract more users. All the other apps only provide services on buying/selling/trading crypto, but none of them have been able to provide a Lightning System network to complete transactions in milliseconds. This is what sets LightSpeed Transfers apart from the rest.

Accomplishments that I’m proud of

Being able to access the blockchain and cloud storage, from the app itself is something I am very proud of. I struggled with the idea of having the data files separated, but at the same time be included with the blockchain because I wanted to have the real time price of bitcoin, but also have the price of bitcoin each time a transaction was made, so that users can check their transactions and be able to see at what price they bought/sold/transferred their bitcoin.

What's next for LightSpeed Transfers

Next step for LightSpeed Transfers is to continue adopting as many different cryptocurrencies as possible. I am currently working on having Ethereum also available to buy/sell/trade on our app, and we will continue to have all the other altcoins added with numerous updates over the upcoming months. With a few more updates on the app, I will also be launching it worldwide on Play Store and App Store. There have also been a few advancements for publishing a website for LightSpeed Transfers, where users will be able to access the exact same features but from their laptops or computers. Regardless of these next steps, there seems to be a very exciting future for LightSpeed Transfers.

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