Wednesday, March 20, 2019

Bitfury’s Integration Now Gives Merchants In U.S., Canada, and E.U. Access To Bitcoin Lightning Payment

More merchants in the U.S., Canada, and the E.U. will have access to Bitcoin Lightning payments courtsy Bitfury and Hadepay. Bitfury group announced its partnership with business payments processor, HadePay on Thursday.

Bitcoin Payment Getting Easier and Faster

Bitfury noted in the announcement that it had integrated its web-based lightning network, Peach Merchant API (application programming interface) with Hadepay’s platform. The integration will enable businesses to accept payment over the lightning network which will improve the efficiency and lower the costs of Bitcoin transactions. Also, it noted that when a payment is made, merchants can immediately convert Bitcoin into another currency through the Hadepay’s platform.

Also, Pavel Prikhodko, head of Lightning Peach, Bitfury’s team of lightning network developers stated that by bringing the Lightning Network to HadePay’s payment processing platform, the firm is making it easier for businesses across the United States to accept Bitcoin payments. This is now available in all the 50 states of the United States of America presently.

Further, HadePay’s CEO and founder, Brian Nichols said that Bitcoin has always been a good low-cost alternative to fiat payments, but with the integration, Bitcoin payments are now equally convenient as the firm’s fiat payment processing services. This will pave the way for mass adoption, Nichols stated.

HadePay is a payment processor platform that functions on a hybrid model, and it processes both fiat and blockchain payments. The platform can also be utilized by merchants around the world to accept payments through PayPal, Apple Pay, Square among others.

No doubt the integration and wide reach of the service to merchants across the 50 states of the United States, Canada, and the E.U. is a great boost to the status of Bitcoin globally

Lightning Network

The lightning network is a second layer scalability protocols that function on the Bitcoin blockchain. This is still a beta project which makes it attract some risks. However, this continues to develop and see support from the members of the crypto community.

In recent time, prominent names and firms have supported the technology in an ongoing experiment known as the lightning torch. This includes financial services giant, Fidelity Investments, LinkedIn’s co-founder, Reid Hoffman, and Twitter and Square CEO, Jack Dorsey.

Also, the recent surge of bitcoin daily transactions was also attributed to the Lightning torch experiment by some enthusiasts.

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