Bitcoin (BTC) Payments – Billionaire365

Bitcoin (BTC) Payments Reached 4,000 Merchants Via CoinGate and Lightning Network

The payment gateway CoinGate announced the launch of a platform that will allow transactions through Lightning Network (LN), facilitating Bitcoin (BTC) payments to about 4,000 merchants. The information was released on September 5th on the CoinGate blog and explains that Bitcoin (BTC) payments on the Lightning Network debuted in San Francisco, United States, during the TechCrunch Disrupt 2018 event.

The purpose is to allow payment with minuscule fees and obtain instant confirmations, according to the company statement, adding that it sought to reduce technical barriers for merchants while allowing users to enable or disable Lightning Network with the push of a button.

“Since LN (Lightning Network) has yet to undergo a full live usage test, CoinGate had to ensure that transactions were secure and, if an error occurred, the company was ready to cover its customers’ losses. However, during the 8-week trial, the system did not experience any significant errors and was ready to maintain high volumes,” stated CoinGate.

CoinGate launched the first Bitcoin (BTC) payments processing platform to adopt Lightning Network

CoinGate had shown a broad interest in collaborating with the development of Lightning Network since May 2018 when it had already enabled a tool for its users to test the network. Since then, the possibility of launching the system has been evaluated, and now it becomes one of the first Bitcoin (BTC) payments processing platforms to adopt this technology and manage one of the more than 2,000 LN nodes.

With this initiative, the Lithuanian-based company, CoinGate, claimed to be looking for innovative ways to solve Bitcoin (BTC) scalability problem, to which Lightning Network has been seen as a good option.

Despite a Diar study, published last June, that argued that Lightning Network is not as effective at routing payments as it is believed, other companies follow the same line of action as CoinGate. One of them, the BTCPay application, is enabling the possibility of running a Lightning Network node and perform transactions with Bitcoin (BTC) and Litecoin (LTC).

Anna Galvez

Amazon Getting Closer To Accepting Bitcoin (BTC) Payments And Blockchain Technology

A new rumor emerged on Reddit and created a massive buzz around it. According to it, the giant online retailer and tech company Amazon is up for accepting Bitcoin (BTC) payments.

As said on Reddit, the information leaked from a developer at Amazon who asserted that the company discussed accepting BTC many times, but every time it got stuck at the returns and refunds issues as the BTC price is very volatile.

Even though the Amazon’s spokesmen kept the silence regarding the company’s plans on accepting cryptocurrency payments and blockchain technology, lately, the company engineers and devs made some significant steps towards cryptos. On the other hand, the Amazon Technologies, Inc., an Amazon subsidiary, successfully patented a streaming data marketplace the enables customers to view crypto transaction data in real-time, as reported by the Daily HODL.

Amazon getting closer to accepting Bitcoin (BTC) payments, as well as other cryptocurrencies

The before-mentioned patent talked about the opportunity to employ Bitcoin (BTC) as a use case, asserting that “a group of electronic or internet retailers who accept Bitcoin transactions may have a shipping address that may correlate with the Bitcoin address.”

On the other hand, Amazon purchased three crypto-related Internet domains, namely, amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com. These come in addition to the already-owned domain amazonbitcoin.com. All these domains redirect to Amazon’s main website.

Amazon Web Services and AWS Blockchain Templates are already used by Amazon to offer blockchain solutions.

Also, some rumors say that Amazon plans to launch its proprietary crypto coin. In fact, they’ve already released a virtual currency, the Amazon Coin. However, it’s not relying on blockchain technology, so the coin is not cryptocurrency, so it didn’t win much popularity.

In conclusion, Amazon, the giant online retailer and tech company, takes significant steps towards accepting Bitcoin (BTC) payments, as well as other cryptocurrencies, and blockchain technology.

Anna Galvez