After coming close to $2 million network capacity, Lightning Network can now also be used to pay for coffee in bitcoin.
After Coke, It’s Coffee Time
About two months back, Ricardo Reis created a mock-up vending machine for coke that accepts payments in Bitcoin through Lightning Network (LN). A customer just has to scan a QR code to make the payment through his/her Lightning-enabled wallet.
These developments helps in boosting the mass adoption of Bitcoin. Now, according to a recent Reddit post titled, “Bitfury Presents: The Lightning Network Coffee Machine,” coffee can also be bought instantly in exchange for Bitcoin through LN.
The video shows how the coffee machine is connected to the device that has the scanning code. Once the customer scans the QR code, the payment has been made instantly.
The video can be seen here, https://www.youtube.com/watch?v=qug6tCHPXtw
This got the Bitcoin and crypto community excited as one Redditor says,
“This is why I believe in Bitcoin. Just some random guys working on improving the new money network. awesome dude!”
While another Redditor shares,
“The payment confirms before the coffee can be brewed. We need to develop some sort of second layer on top of current coffee brewing technology to keep up with the speed of Bitcoin transactions.”
And this quirky one,
“The coffee drippin’ is way slower than the payment itself. Pour lightning coffee next time, please!”
As for the current Bitcoin transaction fees, as per Bitcoinfees.info data, the fee to have your transaction mined on the next block that will take 10 minutes and within three blocks that will be mined in 30 minutes is $0.32. While fee to have your transaction mined within six blocks that will take an hour is $0.26.
In the recent times lightning network, which is a second layer that uses smart contract functionality in the blockchain in order to enable instant payments across a network of participants, has been achieving big numbers.
As per the data on 1ML, with 4,289, the network capacity of Lightning network has increased 321 percentage to 453.65 BTC i.e. about $1.8 million as per current Bitcoin price of $4,000 (approximately).
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Lightning Network After coming close to $2 million network capacity, Lightning Network can now also be […]