New Bitrefill Thor Service Aims to Simplify Bitcoin (BTC) Lightning Network Payments

2019-1-10 20:59

Bitrefill is now offering a new way to mitigate Bitcoin’s expensive learning curve for users. During a conversation with CoinDesk, Bitrefill’s Thor service allows people to give lightning channels without the recipient having to set up anything.

The Lightning Network (LN) is an off-chain scaling solution proposed for Bitcoin (BTC) in order for its network to be less congested.

Bitrefill’s John Carvalho commented:

“Thor allows people to connect to the lightning network whether they have bitcoin or not. All you have to do is download one of the supported wallet apps, install it, and then either you or a friend can come to Bitrefill and purchase a channel opening.”

When a channel is set up between two parties, they have to deposit enough Bitcoin to keep it open. However, they would only be able to transact the funds that they’ve deposited in that channel.

WIth Thor it is possible for users to set up a channel between two parties, deposit funds and Bitrefill will maintain it active for 30 days. The main intention behind this project is to allow everyone to run a lightning network. At the moment, the network needs to be developed even further to offer user-friendly services. With Thor, the LN will be available for more individuals and companies.

According to 1ML.com, Bitrefill is one of the most important organizations in the Lightning Network, that continues to grow surpassing a capacity of $2 million. In 2019, the network is expected to keep growing, as it did during 2018, even during a bear market like the one experienced by Bitcoin and other digital assets.

Although the network is not yet prepared for high volume and mainstream usage, there are several companies such as Bitrefill that are working on top of it and already offering services. As Carvalho says, the more these services work and are tested, the more this network will be used by people to perform transactions.

At the time of writing, there are 5,268 nodes and 19,206 channels. The network has a capacity of 567.18 BTC.

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Источник: bitcoinexchangeguide.com

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