Strike: companies can send dollars directly through lightning network

Last Updated: 16 February 2023

Companies and also individuals can send US dollars directly over the lightning network. Jack Mallers of technology company Strike announces this on Twitter.

Mallers compares the ease of payment to Swift and the VISA network, among others. The difference being that the lightning network is cheaper, faster and more open than existing payment networks. In fact, businesses can use the technology.

He clarifies that it does not involve stablecoins, a type of asset now under the microscope of US regulators. You use US dollars on the lightning network and do not need to have bitcoin to use the service.

Lightning is a secondary layer on top of the bitcoin network, allowing cheaper and faster transactions than on the bitcoin network itself. This is because transactions are settled at a later stage. While still experimental, the lightning network is increasingly being used by businesses and citizens alike.

  • Ivan Brightly

    Ivan came across the topic of cryptocurrencies in early 2016 and, as an author and enthusiast, has been intensively involved with the topics of cryptocurrencies, blockchain and STOs ever since.

error: Alert: Content is protected !!