Bitrefill Launches First-Ever 1 BTC Public Channel On Bitcoin’s Lightning Network Via Acinq
Bitrefill Launches First Ever 1 Btc Public Channel The Lightning Network
Bitrefill, a platform which enables users to perform mobile top-ups using cryptocurrency, has announced the launch of the first ever public Lightning Network Channel to carry one Bitcoin (1 BTC).
The Lightning Network was launched in partnership with Acinq, a Bitcoin tech firm and their eclair scala implementation.
This new Bitrefill channel surpasses the current 0.16777216 BTC channel limit record and it's already live with transactions.
Lightning Network Decline
With reports of the capacity of the Lightning Network decline by 4% within a month, this new Bitrefill channel is a relief to the community.
The Lightning Network is a ‘second layer' payment protocol that enables faster transactions by reducing the on-chain traffic and bring scalability to the network.
This protocol has seen significant growth, essentially after the ‘Lightning Touch' project earlier in the year.
Improved Customer Experience
Knowing that increasing the set limit was a possibility, Bitrefill intends to fully explore this possibility and provide its customers with a higher limit on the channel, which will improve their shopping experience.
This will in turn improve liquidity across all other aspects of the network, including their Thor products.
A Big Part Of Bitcoin´s Future
On the Acinq and Bitrefill collaboration, Bitrefill stated:
“It was awesome working with ACINQ on this and we really appreciate all of their work to make this possible with us! We are strong believers that the Lightning Network is a big part of Bitcoin’s future and are happy to have people that are willing to be #reckless with us!”
If this capacity increase continues at this rate, it will definitely bring about improved BTC scalability soon.