CoinGate (Payment Service) Introduces the Bitcoin Lightening Network Pilot for 100 Interested Buyers – Bitcoints

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Published on July 10th, 2018 | by bitcoin

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CoinGate (Payment Service) Introduces the Bitcoin Lightening Network Pilot for 100 Interested Buyers

CoinGate (Payment Service) Introduces the Bitcoin Lightening Network Pilot for 100 Interested BuyersCryptocurrency payment gateway CoinGate is launching a pilot program for 100 merchants to test transactions on a Bitcoin Lightning Network (LN) variant of their service, according to news shared with Cointelegraph today, July 10 According to CoinGate’s blog post, the merchants taking part in the LN trial include esports betting websites, online stores with crypto merchandise, servers and hosting services, and adult entertainment websites.
The post notes that Lightning Network payments “will be” available starting on July 1.
The Lightning Network is a second layer solution to the problems with scalability for the Bitcoin (BTC) network that works by keeping the majority of transactions off-chain.
A study released at the end of June alleging that the Lightning Network had a low reliability of successfully routing a payment was refuted by the co-founder of Lightning Labs, as well as other crypto experts.
Also in June, Pokémon came to the Lightning Network in the form of Poketoshi, a game using a LN-enabled virtual controller that charges users 10 Satoshi per command, with one Satoshi equal to one hundred millionth of a single bitcoin.

Source: Cointelegraph.com

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