OpenNode

Lightning Network Makes Bitcoin (BTC) Payments Faster And Cheaper – Here Are 4 Platforms That Support It

iDue to the increase in transactions and the congestion of the Bitcoin (BTC) network, Lightning Network was developed, a technology that allows you to use BTC as a cryptocurrency payment method instantly and at lower fees. Here you can see the best 4 platforms that have integrated this technology – OpenNode, GloBee, BTCPay, and CoinGate.

The Open Node cryptocurrency payments processor allows payments to be made with the Lightning network. This platform, launched last May, announced that its system “is designed for companies of all sizes and shapes.”

All out tools and features are built around the idea that using Bitcoin (BTC) should be easy and empowering for both merchants and customers alike.

Open Node

Masen.io Lightning Network platform

This platform is developed by Masen.io, a company dedicated to Bitcoin (BTC) technology and ecosystem, based in Los Angeles, USA.

Via its website, Masen.io points out that its work aims to “close the gap between BTC and the general public through the development of applications that focus on people and their daily lives.”

GloBee

Another platform that allows payments through Lightning Network is GloBee, a global provider of cryptocurrency payments that enables you to accept or send payments in Bitcoin (BTC), Litecoin (LTC), or Ethereum (ETH), among others.

Also, GloBee payments platform can be integrated into websites through WooCommerce, Magenta, OpenCart, and other services, which extends the reach of Lighting Network and can increase cryptocurrency adoption.

BTCPay

BTCpay, an alternative open source project to BitPay, also enabled the option to make payments with Lightning Network last March, as well as CoinGate, which stated that “this technology will eventually make Bitcoin (BTC) faster, lighter and more efficient.”

Lightning Network is a network that operates outside of Bitcoin (BTC) main blockchain and processes transactions through payment channels created between its nodes. As a result, transactions are made immediately and with minimal fees, opening up the possibility that BTC can be adopted as a payment method on a global scale.

Anna Galvez

OpenNode Is A New Bitcoin (BTC) Cryptocurrency Payments App Based On Lightning Network

Just a couple of days ago, a Bitcoin (BTC)-based cryptocurrency payments app for commercial customers, OpenNode, has been released. Its main features rely on the use of the Lightning Network protocol, which can process transactions faster and more secure, via channels parallel to the main Bitcoin blockchain.

As stated on the app’s site, this payment processor concentrates on simplifying the customers’ connections with blockchain technology and cryptocurrencies, in order to increase cryptos acceptance by the business sector, therefore enhancing the digital assets’ adoption as a method of payments.

All our tools and features are built around the idea that using bitcoin should be easy and empowering for both merchants and customers. This means moving away from traditional models that create an entry barrier with high transaction fees and complicated technical integrations.

OpenNode

The platform deducts only up to 1% in fees compared to other cryptocurrency payment apps such as BitPay, which, according to OpenNode, deducts fees of between 1% and 2% and centralized fiat money alternatives such as PayPal or Square where goes as high as 3%.

OpenNode cryptocurrency payments application based on Lightning Network hasn’t been well-received by the Bitcoin (BTC) community

This cryptocurrency payment application has not been very well received by the Bitcoin (BTC) community, which has been very critic regarding some aspects of this new project.

Nicolas Dorier, a developer and CTO at Metaco, a cryptocurrencies market platform for the banking sector, explained on Twitter that, “in addition to mistakenly claiming to be the first payment processor of its kind, OpenNode appears to be a centralized, non-open source project.”

Also, one Reddit user complained that even though OpenNode states to be “open, honest, ethical, and genuine” with their customer as they are following Bitcoin (BTC) ideals, there is no data about the people behind the project.

Other users on Reddit also showed disappointment regarding the fact that the OpenNode platform keeps customers’ cryptos, even though the Lightning Network doesn’t require this.

Additionally, others think that projects like this one are needed during the initial adoption of cryptocurrencies. However, apparently, OpenNode is still in its beta phase so many might change before the final release.

Anna Galvez