The Lightning Network continues to see expansion and today marks another leap forward in the accessibility of this revolutionary protocol. The crypto cell phone top-up provider, Bitrefill, unveiled a new feature this week that allows customers to buy vouchers for online retailers including Amazon via the Lightning Network. This latest development was met with praise from the LN community, many of who are excited to now gain access to unlimited items.
Bitrefill is no stranger to the Lightning Network. Last year, they became one of the first retailers to accept payments via this second layer protocol. Bitrefill has been a strong advocate for the LN, and it appears as if they are ready to take their commitment to the next level.
A July 19th press release announced the platforms new functionality. Interestingly, the press release explained that Bitrefill had always planned to accept LN payments for vouchers. The developers were waiting for the LN to become more stable. The LN is currently in its Beta testing stage.
Vouchers – A Smart Move
Bitrefill seems to have a solid niche in the cryptomarket. Vouchers are becoming more popular because they don't require the merchant to change their business model to accept cryptos. Speaking on this matter, the company's CEO, Sergej Kotliar explained how most companies don't have the time to learn new crypto protocols. He also took a moment to discuss how vouchers allow the platform to control the entire user experience.
Bitrefill LN Selection
Bitrefill announced their preliminary list of available vouchers. This list includes Amazon, Uber, Google Play, Hotels.com, and many other popular merchants. Company executives hope to expand the program to include more merchants in the coming weeks. Lightning Network users now have access to a wide range of products and services.
Bitrefill accepts LN payments, as well as, BTC, Litecoin, Ethereum, Dash, and Dogecoin. The platform originated as a crypto phone top-up provider. Users can add minutes to their phone using crypto payments. The protocol’s API provides access to 500 carriers in 127 countries.
Bitrefill was founded in 2014. The company is based out of San Mateo, California and currently lists fewer than ten employees. The development firm received initial capital funding from the Boost VC firm. On February 8th, Bitrefill partnered with the popular privacy coin DASH to increase transaction capabilities and expand their reach to the unbanked regions of the world.
The Lightning Network
The Lightning Network utilizes private payment channels which allow users to send and receive unlimited transactions. The transaction data is added to the BTC blockchain once the payment portal has been closed. Second layer protocols are popular in the cryptospace, and they are one of the core components required to institute smart contracts.
Lightning Network for All
The Lightning Network is sure to receive a boost in adoption thanks to these new capabilities. Lightning Network App (LApp) developers have been working double time to provide users the chance to experience the Lightning Network. Bitrefill has taken this quest to the next level thanks to their innovative crypto voucher platform.