Bitcoin’s Lightning Network will bring BTC payments to over 400,000 storefronts and US Shopify sites. The founder of Zap, Jack Mallers, announced that his Lightning Network wallet, Strike, established partnerships with Shopify, NCR, and Blackhawk Network.
Adaptation of Bitcoin Expands
These partnerships are live, and each Shopify website that uses online card transactions can process payments via Lightning Network. The money is received instantly, without an intermediary 3% fee.
The Lightning Network adoption now expands to multiple big retailers in the US, including McDonald’s, Walmart, the Home Depot, Best Buy, Starbucks, Chipotle, El Corte Ingles, Lowe’s, etc.
The Lightning Network is a layer-two solution for the Bitcoin blockchain. It utilizes smart contracts to manage payments instantly with barely any fees. With Lightning Network, Bitcoin is also a digital currency and not just digital gold.
The Lightning Network also helps Bitcoin scale and compete with every fiat currency globally. According to Maller, this is another step forward in using Bitcoin daily as an online payment system. Maller’s Twitter presentation got huge support, with Jack Dorsey tweeting about it.
Jack Mallers also noted that there hadn’t been any new payment networks since 1949 that would offer innovative, affordable, and faster solutions.
Regardless of this mass adoption move, the Bitcoin price still hasn’t changed much.