The Lightning Network platform will allow micropayments safely and quickly from mobile devices
This January 4th was the launch of a new Bitcoin payment platform called Wallet of Satoshi. This application aims to bring Lightning payments to Bitcoin users with little technical knowledge.
The new easy-to-use Bitcoin Lightning portfolios, such as Bluewallet, mark the future of online payments. Users can send and receive Bitcoin Lightning payments from their mobile device.
Bluewallet is one of those Apps. This one in particular now allows users to generate invoices and receive direct payments from Lightning Network (LN) from mobile phones.
Wallet Satoshi is an App aimed at the Australian market. It is one of those Apps with a friendlier interface to benefit users with little technical knowledge on the subject.
This App is able to send Bitcoins (BTC) through LN to pay bills and buy products in participating stores, among which are online services such as Tippin and Brisbane Airport.
Another advantage of making payments through this platform is to make micropayments instantly and at a low cost.
Although Wallet Satoshi facilitates the process of transactions, one of the drawbacks of these wallets is the inability to withdraw satoshis from the LN wallet to BTC wallets, but the developers expect that Bluewallet will soon offer this feature and, of course, also Wallet of Satoshi.
Its Main Advantages
Bitcoin LN promises not only to handle millions of transactions per second, but also to allow sending of payments with fractions of cents or satoshis (something that is not currently possible in the chain) to anywhere in the world.
That is because Wallet of Satoshi works thanks to the Bitcoin Lightning Network scalability solution. However, the creators of the new product thought that the LN technology remains in an experimental state, and only technically competent users could navigate it efficiently. To solve that, they designed this new user interface, which could facilitate sending and receiving of payments.
“We want everyone to be able to participate in the new international economy, so it focuses on ease of use and is available on iOS and Android”, said Daniel Alexiuc, CEO at Wallet of Satoshi Company.
Whilst the use of Bitcoin for small-scale payments remains modest, LN is preparing to increase the number of transactions that Bitcoin’s network can handle. In fact, Lightning now has more than 5,000 nodes, almost 18,000 channels and a total capacity of 543 BTC ($ 2,050,000), according to data from the 1ML online monitoring resource.
“Lightning is the real-world retail payment system we’ve been anticipating for years, and it’s finally here!” said Alexiuc. Currently, Wallet of Satoshi is only available for 1,000 beta users, before the full release, which will take place in the coming weeks.
At the same time, in an effort to make transactions and payments with Bitcoin (BTC) more effective, an API extension allows making payments with the LN from a web browser, such as Google Chrome, FireFox or even Microsoft Edge. Other development teams are trying to take advantage of the market that LN is opening.
By María Rodríguez