An off-chain scaling solution, Bolt seems to have gathered quite a lot of attention in the crypto market lately. It has recently attracted some of the major investments from the crypto space.
Electric Coin Company, which played a major role behind the Zcash crypto asset, along with its founder as well as CEO Zooko Wilcox and Dekrypt Capital.
Why BOLT impressed the majority?
Since its quite well known that it’s never an easy task to gather heavy attention of renowned investors in the crypto space unless you have something really out of the box or provide a service that serves the user in the best way possible.
According to Wilcox, Bolt has emerged as a trustworthy platform because of its sophisticated protection. He further explained that the BOLT protocol is a scaling solution which is quite similar to Bitcoin’s Lightning Network. This is what makes it more feasible to send smaller accounts. However, there is one thing that it differs from and that is its privacy category.
One of the imperative features that must be kept in mind is that Bolt implements cryptography to conceal, from unauthorized parties, the information about those users who send micropayments and also about those who are receiving it.
Pointing towards the ongoing online scandals as well as hacks where people lose their imperative data, Wilcox stated that “At the end of the day all that matters is that you are safe. This kind of technology is security technology. It just protects users so they can use the system without fear.”
As far as the present scenario is concerned, Zcash (ZEC), is currently trading at $68 after the fall in January 2018 from $851.