BitPay, a bitcoin & crypto price platform, this day announced toughen for Lightning Network funds. Now, BitPay retailers and their potentialities possess ranking admission to to more affordable, extra scalable bitcoin funds.
The mix of funds made thru the main bitcoin blockchain and thru the Lightning Network ends in an overall greater price skills that’s posthaste, low-ticket, and scalable.
Funds might perhaps also be made thru Lightning Network-supported wallets take care of Strike, Money App, and others. No extra setup or configuration is required for BitPay retailers to fair earn Lightning funds.
Advantages of Lightning Network
Lightning Network is a secondary layer of the blockchain that permits scalable transactions with low costs. It was as soon as created to make stronger the ticket and scalability of bitcoin transactions.
Retailers and their potentialities can beget “off-chain” transactions without jamming the main blockchain, while peaceful receiving the identical security and comfort of blockchain-based funds.
- Fleet transactions – Performing smaller transactions on the Lightning Network reduces congestion on the main blockchain, speeding up transactions across the board.
- Low transaction costs – Charges on the Lightning Network are factual a allotment of a cent. For retailers, this vogue extra potentialities spending crypto. For purchasers, this vogue that paying with crypto is as efficient as any other price manner. Moreover, micropayments change into more affordable.
- Scalability – Lightning Network can project hundreds of thousands extra transactions per 2nd than the main Bitcoin blockchain.
“BitPay’s integration with the Lightning Network presents potentialities extra different and retailers extra ways to be paid leveraging blockchain know-how.”
– Tony Gallipi, BitPay’s Co-Founder
