Blockstream Acquires Bitcoin Wallet, Lightning Network Not The Reason

Blockstream’s acquisition of GreenAddress, a Bitcoin wallet software provider based in Europe, has nothing to do with the Lightning Network, says Lawrence Nahum, CEO and founder of GreenAddress.
Blockstream started developing the Lightning Network which is aimed at providing a scalable, instant Bitcoin/Blockchain transactions at a low cost. It is one of scalability ideas which has been proposed by the Bitcoin development community.
Nahum reveals to CoinTelegraph that the acquisition is geared towards improving the wallet.
He says:
‘Both teams from GreenAddress and Blockstream have strong and reciprocal appreciation and working as one will improve both the wallet as well as the libraries available for Bitcoin and sidechains. At GreenAddress we always worked hard to find the perfect balance between security, privacy and ease of use. This balance is a moving target and also user/amount dependant so you can never say it’s ‘done’ or ‘perfect’ – software needs to be maintained and updated.’

This post was published at Coin Telegraph on 2016-07-29.