NiceHash Adds Lightning Network Features

In another sign of the Lightning Networks' continued expansion, the cloud mining firm, NiceHash announced the successful integration of Bitcoin's top scaling solution. The maneuver is a major upgrade to the network's infrastructure that will improve the UX and help to lower fees. As one of the largest hash power markets in the world, NiceHash's decision to integrate the LN has received praise from the community.

NiceHash

NiceHash entered the market in 2014 seeking to make mining more inclusive. The platform quickly rose to stardom as one of the premier cloud mining solutions. This reputation pushed the platform higher in terms of market positioning. Today, it’s the largest hash power market in operation with +1M users, +250 daily miners, and a growing community of users.

Source – NiceHash

Momentum In Motion

NiceHash has been a strong supporter of the Lightning Network for years. Notably, the network currently operates one of the most popular LN nodes in the world. Impressively, this node is responsible for 2.2% of the second layer's total capacity. To date, NiceHash has helped facilitate +350K in transactions. In terms of value, the platform has transferred + 1,500 BTC over +350k LN transactions.

Better UX

Lightning payouts provide a better UX for the community because they reduce time and fees. Users continue to express a desire for savings on their BTC actions. The new upgrade enables LN deposits and withdrawals for users which is sure to draw more interested people to the platform. Notably, the Lightning Network uses personal payment channels to reduce fees and improve privacy.

A Crowd Pleaser

Speaking publicly, Vladimir Hozjan, CEO of NiceHash discussed the advantages of the maneuver. He explained that his users have “loved” the upgrade and how it is helping his platform remain competitive in the crowded market. Notably, his expression falls in line with other popular projects that have recently made the move.

Future Features

NiceHash doesn’t intend to stop offering new products anytime soon. Their mining options have made them a hit and now they seek to expand operations into other fields. One such venture is the NiceHash Pay feature. This option will make it easy for anyone to accept and receive LN payments.

The project has already seen considerable interest as more businesses are aware of how the Lightning Network can benefit their model. LN payments continue to see more use as payment processors like Stripe have made it easier for businesses to access.

Lightning Network Revolutionizes Mining

There have been a variety of ming projects that have turned to the Lightning Network recently to provide savings to users. LN-powered mining options improve privacy and offer faster payouts. Additionally, these options can handle smaller payments which makes them ideal for the average person starting to mine using cloud services.

NiceHash for the Win

NiceHash continues to pioneer the cloud mining sector. Their latest LN integration is sure to cause competitors to copy their actions which will lead to more LN users. For now, NiceHash remains positioned to be the dominant hash marketplace for the foreseeable future thanks to its innovative concepts and willingness to leverage advancements to improve its offerings.