Intellabridge Technology Corp C.KASH

Brilliant!

[badgirl007]

Piggybacked transactions 

A Colorado-based company that plans to set up a Vancouver office in 2018 and go public on the Canadian Securities Exchange is banking on a new technology, known as the Lightning Network, to drastically reduce the cost of mining fees and quicken transaction-verification times. 

“People have realized that there is a problem with the mining fees in Bitcoin: [they] are going up,” ChargaCard CEO John Eagleton told BIV. “What we’ve identified as one of the better technologies to solve this problem with mining fees is the Lightning Network.”

He explained that the Lightning Network acts as a second layer that lies on top of the existing blockchain network that underpins Bitcoin. 

Thousands of transactions can take place on the Lightning Network, with the changing balances in accounts as a result of those transactions all kept off the main Bitcoin network. Eventually, all of the changes in Bitcoin account balances are grouped as a single transaction that incurs only one mining fee. 

“Most of the [Lightning Network] transactions take place off the chain, and that allows, effectively, zero transaction fees and much faster transactions,” Eagleton said. 

ChargaCard’s business model is to provide payment-processing services to convert cryptocurrencies to different fiat currencies such as Canadian or U.S. dollars. 

“We charge the customer a 1% fee and the merchant a 1% fee,” Eagleton said. 

The result is that someone who walks into a store with $100 in a digital wallet will be able to buy a $10 item, incur a $1 fee and retain $89 in that wallet. 

ChargaCard will pay all the mining fees and will be able to get away with paying very low mining fees by piggybacking countless transactions on the Lightning Network. 

https://biv.com/article/2018/01/bitcoin-has-yet-gain-traction-bc-retailers?utm_source=BIV+Newsletters%2C+effective+July+1%2C+2017&utm_campaign=dc855233b0-NL_2018_01_03&utm_medium=email&utm_term=0_c5e00a74ef-dc855233b0-211317601 

from here:
https://investorshub.advfn.com/Cryptanite-Blockchain-Tech-CRBTF-36019/