The cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. provider announced immediate support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for Bitcoin payments through the Lightning Network solution.
Users of BitPay bitPay is a Bitcoin payment service provider. will now have an alternative for payments with Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. más económicos y rápidos ahora que la empresa ha integrado la solución de segunda capa, Lightning Network a network refers to all nodes in the operation of a blockchain at any given moment in time. .
The popular cryptocurrency payment processor, BitPay announced Wednesday that it has added support for Lightning Network the scalability solution from Bitcoin which facilitates micropayments. As a result, the merchants on the platform a place to buy, sell and store cryptocurrency will now be able to receive payments from over 100 wallets that are enabled for Lightning among them Cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. App y Strike.
In a press release the company noted that the initiative will allow both merchants and customers to complete transactions of Bitcoin fast, low-cost and scalable. Tony Gallippi, co-founder of BitPay he added:
BitPay’s integration with Lightning Network gives customers more options and merchants more ways to receive payments by leveraging Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. technology.
As a second layer solution of Bitcoin , Lightning Network (LN) eases the burden on the blockchain by creating a separate network where users transact and create minimum commitments to reduce fees and speed up transactions.
BitPay finally opens up to Lightning
To date, BitPay had stayed away from the integration of second-layer solutions from Bitcoin .
As reported by Cointelegraph In May 2020, the company’s chief marketing officer, Bill Zielke, stated that the company had no plans to add Lightning o Liquid in spite of the fact that Bitcoin was by then the most used cryptocurrency for payments by its users. Interestingly, that same year, the CEO of BitPay , Stephen Pair, dijo that an integration of Lightning in an interview for the same media.
Bitpay is one of the best-known names when it comes to payment processing for Bitcoin . With thousands of merchants in its network, the platform automatically converts cryptocurrencies into fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. currency. It was launched as a cryptocurrency-only company. Bitcoin in 2011 but has since expanded, allowing its customers to accept a wide variety of cryptocurrencies and stablecoins.
The news comes just one day after Lightning Labs, the company behind the solution Lightning , anunciara el exitoso cierre de una ronda de inversión en la que recaudó USD $70 millones. La compañía adelantó que planea utilizar los fondos para desarrollar un protocolo que permita bringing stable currencies to the network for the first time Bitcoin via Lightning.
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Article by Hannah Estefania Perez / DiarioBitcoin
Image edited from Unsplash