Partnership with Shopify announced by Strike CEO to allow payments via Bitcoin Lightning
- ByStartupStory | April 8, 2022
Partnerships with Shopify, point-of-sale supplier NCR and payments firm Blackhawk, has been announced by Strike CEO Jack Mallers that will help merchants across America and the world accept Bitcoin payments using the Bitcoin Lightning Network.
Mallers announced these new partnerships as a way in order to bring Bitcoin and cryptocurrencies back to their original roots as a frictionless, free payments alternative to the traditional financial system, speaking at the Bitcoin 2022 conference in Miami.
In particular the partnership with Shopify will provide merchants who opt-in with the ability in order to receive payments from customers globally via the Bitcoin Lightning Network. However, as the government of India has shown resistance towards accepting cryptocurrencies as legal tender, it is unclear if this will be accessible by Indian merchants.
In order to make Bitcoin transactions faster and cheaper, a layer-2 technology- the Bitcoin Lightning Network is created. The Lightning Network allows you to make payments via a side chain, instead of requiring the main Bitcoin blockchain to verify payments.
This allows for quicker verification of payments, as well as to verify transactions on a layer-2 network compared to the main Bitcoin blockchain cheaper verification you don’t need the large amounts of energy.
Last year when Mallers played an instrumental part in the El Salvadorian announcement to accept Bitcoin as legal tender, Strike CEO Jack Mallers came to global prominence.
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