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Bitfury Pushes Lightning Network Adoption with New Targeted Products

Bitfury Pushes Lightning Network Adoption with New Targeted Products

IT service management company Bitfury has launched a bundle of network business products with the aim of boosting the capacity of the Lightning Network.

As per a blog post from the Bitfury Group, the new Lightning Network compatible tools that have been made available include: an open-source Bitcoin wallet, a public node to facilitate and aid new payment channels, additional developer tools, and a hardware terminal, payment processor and e-commerce software bundle for merchants.

The Lightning Network acts as a second layer over the Bitcoin blockchain, with developers claiming it can provide the solution to the cryptocurrency’s scalability issues. The project is still in its early stages, however, and has as of yet failed to reach the levels of mass adoption it hopes for in order to succeed as a payment network that can be used practically for everyday expenditures.

These new tools from Bitfury are a way of attempting to increase levels of adoption by making the network more accessible to users, and in particular to attract the merchants its need to make its ambitions viable. The blog post describes them as a way to ”bring every step of the business cycle onto the Lightning Network”.

Several notable features from the Peach Wallet include the ability for users to create invoices and set up reoccurring payment.

The new products were developed by Lightning Peach, the engineering and research team from Bitfury.

#LightningNetwork https://t.co/Q0CaYRhLWD observed:
5,606 nodes (2,781 with active channels)
21,518 channels
560.388 BTC capacity ($2,006,293.84)

new in the past 24h:
25 nodes, 511 channels
median node capacity: 0.014 BTC ($48.66)#Lightning #LN #bitcoin $BTC

— Lightning Network statistics ⚡ (@LNstats) January 23, 2019

 

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