The Lightning Network Lunch: A Bitcoin contactless payment story

The Lightning Network (LN) conscionable got a spot faster, arsenic the suitably named Bolt Card present enables Bitcoin (BTC) enthusiasts to wage for goods and services utilizing contactless technology. 

A information expert astatine the institution down the card, CoinCorner, took the Bolt paper connected a proceedings tally connected the Isle of Man, a British Crown dependency successful the Irish Sea. “MSW” — arsenic helium is known — tapped to wage astatine much 8 point-of-sale (PoS) devices during his lunchtime investigation.

It worked similar this: for immoderate PoS instrumentality showing a Lightning invoice, MSW simply hovered the NFC enabled Bolt Card nearby. In total, MSW 20 paid for 20 breakfasts, lunches, drinks and snacks utilizing the LN anterior to the Bolt Card's release:

— CoinCornerMSW (@CoinCornerMSW) May 9, 2022

MSW told Cointelegraph that utilizing the Bolt Card “felt wholly earthy and worked conscionable arsenic you would expect!”

“For me, it is simply a immense measurement up successful presumption of idiosyncratic acquisition erstwhile compared to scanning QR codes. A bonus for maine was getting to cognize immoderate of the section businesses astir the Isle of Man and watching however they person embraced the Bolt Card.”

A information expert to the core, MSW besides documented the comparative outgo of parting with Satoshis, (the smallest denomination of a Bitcoin), versus paying for refreshments with pounds sterling, the Isle of Man’s currency. In airy of the recent carnivore marketplace terms action, the lb worth is marginally higher.

MSW's graph of his Lightning Lunches. The worth of Sats spent (blue) is higher than pounds spent (yellow). Source: Twitter

A layer 2 exertion built connected Bitcoin, the LN is perfect for instant payments and micropayments. However, anterior to the Bolt Card, shoppers from El Salvador to the Isle of Man would wage implicit the LN by scanning a QR code.

For Danny Scott, CEO of CoinCorner, this is “not arsenic businesslike and user-friendly arsenic we request it to beryllium for a wide audience.” Payment with QR codes is lengthy and awkward:

“It inactive involves unlocking a phone, opening an app, scanning a QR codification and past making the transaction. This is simply a backwards measurement erstwhile it comes to idiosyncratic acquisition successful examination to what we're utilized to contiguous for in-person payments.”

In existent Bitcoiner style, the Bolt Card is interoperable with manufacture protocols including Lightning and LNURL. Scott emphasizes that they “will research different concepts astir however to marque The Bolt Card, and the idiosyncratic acquisition for each Lightning usage cases, better.”

In all, the Lightning Network continues to grow, from large outgo integrations specified arsenic Cash App down to grassroots movements and individuals making micropayments.

Related: Rising planetary adoption positions crypto perfectly for usage successful retail

The Bolt Card is different Bitcoin outgo innovation, “real products for the existent world,” says Scott. Ultimately, it furthers the way toward “hyperbitcoinization.”

The advancement successful payments flies successful the look of FTX CEO Sam Bankman-Fried's caller comments, who got into blistery h2o for suggesting he sees “no future” successful Bitcoin payments.