has been taking huge strides this year with multiple deals and brand promotions with huge organizations. The coin even announced recently that Foundation had approached Beam about a partnership to implement Mimblewimble via Extension Blocks on .
The virtual currency did not stop with the announcement alone, however. has announced that Coingate, one of the largest payment gateways which handles transactions for over 4,500 online merchants, had been exploring integrating Lightning Network payments on its platform. The initial test period with merchant partner SurfShark, a VPN provider, has been officially completed and Coingate has finally enabled Lightning Network support to all their merchant partners, allowing to conduct instant payments with significant cheaper fees.
The payments gateway platform was established in 2014 and is based in Vilnius, Lithuania. The payment gateway has enabled various businesses to accept and payments. The company offers payouts either in or in EUR/USD, eliminating any risk associated with price volatility. Users can also buy from CoinGate using bank transfer, credit and debit cards, and mobile balance [phone credit], or sell their to CoinGate.
Coingate integrated the Lightning network last year. as a has existed in the market for 10 years, however, the lightning network is still in a phase of infancy. Coingate had then expressed their elation at the uptake in , stating:
“Since the launch, we saw over 30,000 created orders to pay with Lightning which suffice as a strong sign that both our and the crypto community have a keen interest in this development. Seeing the huge potential it has, we decided to keep developing the feature, but this time, for .”
The Lightning Network has continued to slowly develop and according to reports published on 1ML.com, the network had almost 1,000 active channels, a 150% increase along with a 200%+ capacity increase, in part due to the recent 30% price rise of .
According to CoinGate, they are looking to integrate atomic swaps between the and Networks, a technology that would allow trustless of assets.
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Published at Tue, 12 Feb 2019 23:05:37 +0000
