Strike joins Shopify in massive push for Bitcoin’s Lightning Network adoption

At the Bitcoin 2022 league successful Miami today, Jack Mallers, the CEO of peer-to-peer payments app Strike, announced an integration with e-commerce elephantine Shopify that would let merchants to person faster and cheaper Bitcoin transactions via the Lightning network.

According to an accompanying press release, the caller integration volition unlock “the quality for eligible U.S. Shopify merchants to person Bitcoin payments from customers globally arsenic U.S. dollars” via Lightning Network. Mallers announced :

“We’re arrogant to spouse with Shopify to supply merchants with a cheaper and faster mode to judge U.S. dollars utilizing Bitcoin technology. The Lightning Network is simply a planetary payments web that lowers costs, enhances speed, drives innovation, improves fiscal inclusion, and brings the powerfulness of prime to consumers and merchants.”

Bringing Lightning to the masses

The Lightning Network is simply a alleged Layer-2 outgo and connection protocol built connected apical of the Bitcoin blockchain. The solution allows transactions to beryllium processed off-chain, taking the load disconnected the mainnet and improving the network’s scalability.

As a result, payments made via the LN tin beryllium processed not lone faster but besides cheaper acknowledgment to little fees. Strike’s property merchandise further explained:

“With the Strike integration, Shopify merchants tin judge payments globally and prevention costs connected processing fees, with cash-final settlement. Strike’s integration enables Shopify merchants to diversify their existing outgo options and scope untapped planetary markets and purchasing power.”

‘The close to physique freely’

Additionally, the integration would assistance merchants “generate savings done low-cost outgo processing” and debar “certain complexities” they “face successful holding Bitcoin.” Notably, the caller outgo options volition beryllium “accessible by immoderate user successful the satellite with a Bitcoin Lightning Network-enabled wallet, including much than 70 cardinal CashApp users.”

“If we tin assistance marque the Bitcoin web much accessible and usable we judge we tin alteration the world,” Mallers continued, adding:

“There’s not been since 1949 a superior payments web that allows america to innovate. Let’s physique the superior payments web from scratch…This is astir America and we request to support our quality to innovate.”

Mallers besides revealed that helium has been moving with policymakers specified arsenic U.S. legislator Cynthia Lummis, who is known for her affirmative sentiments toward Bitcoin, “to guarantee that we person the close to physique freely successful this country.”

As CryptoSlate reported, contempt galore irrefutable benefits the Lightning Network offers, it arguably still remains a niche product since it requires users to beryllium somewhat tech-savvy to use. But it looks similar the tide is turning arsenic BitPay, different large crypto outgo work provider, likewise added enactment for the Lightning Network conscionable yesterday, April 7.

With some Strike and BitPay present allowing users to easy entree the caller outgo method, the Lightning Network whitethorn yet spot an detonation of wide adoption.