CoinGate connected 4,000 outlets to the Lightning Network

CoinGate connected 4,000 outlets to the Lightning Network


The processing service CoinGate announced the addition of support for the Lightning Network. From now, all the merchants connected to the CoinGate service were given the opportunity to make payments in the off-chain bitcoin structure.

During the test period, CoinGate asked customers to report errors during the transaction, but it was reported that no such errors were found.

“I’m buying beer for bitcoin using Lightning in the Kasban pub – Oslo, Norway. They use CoinGate as a payment provider. Everything works perfectly, confirmations come in a second.”

Among the new members of the Lightning Network are manufacturers of Swiss watches Chronoswiss and Louis Chevrolet, online bookmakers, a game store, an Italian winter clothes store, a hosting provider Bitlaunch, a Lithuanian music festival, a number of online resources for adults and many others.

For the first time CoinGate plans to integrate LN became known back in May this year, when payment processing began testing the technology using a “test” online store.

According to representatives of CoinGate, the Lightning Network represents the ideal of how bitcoin should work in the future. CoinGate tend to reduce the burden on the blockchain and responsibly treat the “healthy state” of the Bitcoin network, which is why they decided to use the secondary bitcoin layer now.

It should be noted that yesterday the bandwidth of the Lightning network reached 100 BTC. In August, the Lightning Network increased by 85%. The network capacity has increased to 100 bitcoin, and the number of nodes has reached the figure of 3000.

LN, however, still has shortcomings – the network successfully copes with the processing of microtransactions, but the processing of larger amounts is still connected with certain difficulties, so the amount of over $ 300 so far only pass in 1% of cases.

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