Venezuela is working on an offline version of Bitcoin – Locha
The crypto industry is actively developing. We regularly see news that the next proactive developers are releasing a new technology that should make the work of ordinary users easier, faster and better. However, all the innovations are constrained by one serious factor – the necessary connection to the Internet. Cryptocurrency transactions are still not possible offline. This is a serious problem that the team from Venezuela seeks to solve. Local programmers are working on a solution that will allow you to transfer Bitcoins anywhere in the world. Even without being tied to the Internet. The working title of the development is Locha.
Today we will discuss this technology, talk about its potential and advantages. In general, it will be interesting. Without further ado, let’s begin.
What exactly do Venezuelans want to do?
Note that Venezuela is quite loyal to cryptocurrency. The country sees a great prospect in Blockchain. The belief in the principles of the crypto industry is so great that even the state unit of Venezuela is already digitized and used throughout the state. The government actively supports developers working on crypto projects. More recently, a new team of programmers has received funding who offer to connect to the Blockchain not over the Internet, but using radio waves.
The fact is that such a signal has a much larger coverage area and is easily transmitted to almost anywhere on the world map. All operations will be carried out using two devices, one of which will be at the sender, and the other at the recipient. Portable analogs of the walkie-talkie are already running on battery power and allow you to send, receive crypto. Translation is fast enough. Of course, a speed similar to that provided by the Internet is out of the question. However, the developers do not stand still. At the moment, their creation is already working with the Bitcoin blockchain, transactions are received anonymous and secure. In the future, the Locha team plans to switch to other cryptocurrencies.
The project is in the public domain. The development code is available on github, so that each initiative user can modify the already created files and send their proposals to developers.
Where can Locha be useful?
In fact, the potential for using cryptocurrency without being tied to the Internet is huge. The developers claim that their creation will help the military, working in the field, gain access to the Blockchain. Also, such a decision will allow the transfer of money to residents of African countries. Huge distances without infrastructure are not covered by the Internet, but the radio signal will help transmit the crypt.
By the second quarter of 2020, the project should be completed. Of course, after completion of the work, numerous tests will be held. Technology must prove that it is ready for real workloads. Then, when Locha is operational, the technology will go into normal civilian use. Everyone will be able to purchase the necessary devices, attach their wallet to them and transfer Bitcoin without the Internet.
We are confident that, with proper funding and support, Locha will be another breakthrough for the entire industry. Follow the news of this project and the entire industry with us. We publish only high-quality and interesting material. Thanks for attention. Good luck!