Bitcoin Suisse, Switzerland’s biggest BTC broker, has now made Lightning Network technology available for its crypto payment system.
Bitcoin Suisse will use the Lightning Network to make Bitcoin (BTC) transactions each cheaper and sooner. It will be the primary cryptocurrency payment processor in Switzerland to combine the expertise, based on a press launch dated Tuesday.
Armin Schmid, head of Bitcoin Suisse Pay, praised the choice, noting that Lightning transactions will play a big role in scaling crypto apps and driving mass adoption.
“Lightning transactions allow higher throughput per second on the price of a fraction of a cent — making them a game-changing innovation for crypto applications.”
With the launch of this cutting-edge second-layer Bitcoin technology, consumers and merchants utilizing Bitcoin Suisse and Worldline will be capable to conduct sooner transactions with decreased blockchain costs. The announcement further says that the choice is a big step forward in Bitcoin Suisse’s efforts to “promote the broader adoption of crypto technology.”
The Bitcoin Lightning Network is a decentralized community constructed on Bitcoin’s second layer that employs smart contract expertise to assemble a safe community and allow small value transactions at sooner speeds and decrease prices. In 2015, Joseph Poon and Thaddeus Dryja proposed the Lightning Network protocol in an effort to address Bitcoin’s scalability concern.
Worldline, the European counterpart of Bitcoin Suisse, will be capable of course of transactions made utilizing the Lightning Network. As such, clients and retailers will profit from the convenience of crypto transactions on account of the Lightning Network integration.
The Lightning Network has attracted consideration in current weeks as a result of Twitter’s use of it for tipping, along with the community’s nationwide rollout throughout El Salvador.
As reported, the entire capability of the Lightning Network has seen “explosive growth” in 2021. In September, the network’s capability reached an all-time high of 2,904 BTC, an increase in capacity of 170% since January. The network capability will seemingly improve even more now that the most important cryptocurrency broker in Switzerland has incorporated it.