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- Strike’s Jack Mallers made an announcement that Bitcoin will be accessible through Lightning Network to more than 400,000 storefronts and digital stores.
- Folks still need to wait a little more to know precisely how these retailers will begin to accept Bitcoin as payments.
- Lightning Network is an L2 solution for blockchain of Bitcoin which utilizes smart contracts to make settlement of payments immediately.
Can People Make Payments In Bitcoin Now?
Zap founder, Jack Millers, is bringing crowned crypto assets to its root with a declaration that his Lightning Network wallet, Strike, has collaborated with Blackhawk Network, Shopify and NCR.
As per Mallers, any site utilizing Shopify online card can now pay using BTC’s Lightning Network. The collaboration is live currently and a huge move towards Bitcoin’s mass adoption.
During presentation, a slide was witnessed which exhibited the list of some of largest American retailers, involving BestBuy, HomeDepot, WalMart, and McDonalds. As per their websites, NCR and Blackhawk also serve Woolworths, Staples, Lowe’s, El Corte Ingles, Chipotle, Starucks and other international retailers.
Folks still have to wait a bit more to understand precisely how retailers will make use of this facility to accept Bitcoin as payment. However, as per Mallers, more than 400,000 storefronts will accept BTC payments through Lightning Network.
Adoption Of Lightning Network
Over previous few weeks, BitPay, Robinhood and Kraken, have collaborated with the Lightning network. It is a L2 solution for blockchain of Bitcoin which utilizes smart contracts to make payments settlement immediately with a meager fees.
It promotes utilizing Bitcoin as a virtual currency instead of focusing alone towards its functioning as virtual gold. Bitcoin is currently considered by many as an inflation hedge tool and a robust contender to gold.
Lightning Network enables Bitcoin to scale and contend with each fiat currency on the globe. Immediately making settlement of payments with nearly 0% fees is hard to contend against.
Maller has made an announcement which is a prominent move ahead in adoption of crypto assets as a routine payment solution. There remains a plethora of support for presentation of Jack Maller, where Jack Dorsey also backed him on Twitter.
Jack Mallers said that, there hasn’t been a supreme network of payments which enables us to develop and innovate on monetary inclusion, provides inexpensive and quick services.
As per his presentation, retailers will be able to get BTC from clients and immediately convert to fiat without any fees or delay. It doesn’t matter what currency folks are trying to settle their payments in.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
