HomePayment ProcessingBlockSpaces Announces low-fee Payment Processing Lightning Integration

BlockSpaces Announces low-fee Payment Processing Lightning Integration

Today, node infrastructure provider, BlockSpaces, announced that it will offer Lightning Connect; a simplified, non-custodial solution designed for businesses to enable fast, low-fee payment processing. The announcement was made at the world’s largest bitcoin focused conference, Bitcoin 2022, in Miami, Florida. The company recently closed a nearly $6M round of funding to ramp up development and accelerate its hypergrowth trajectory.

The Lightning Network is a layer two protocol that locks transactions in off-chain smart contracts via a mechanism called “channels” which are tied to on-chain Bitcoin transactions. In this way, the protocol maintains the security of the Bitcoin network while enabling faster transactions on the second layer.

With this addition, BlockSpaces continues to expand their extensive infrastructure that currently supports over 10,000 blockchain nodes across the world. Lightning Connect will add auto-provisioning and management of Lightning nodes for businesses to simplify using the network while retaining full ownership and control of their funds. The Lightning nodes are managed through the BlockSpaces interface where balances of Bitcoin, recent invoices, and an overview of channels and liquidity will be displayed.

“We’re very excited to announce our enterprise-grade Lightning nodes. This has been a long time coming, as I have been interested and watching the development of the Lightning Network progress for years. Now feels like the right time to bring LiFi to every business across the world”, said Gabe Higgins, Co-founder and Chief Blockchain Officer of BlockSpaces. “We’re proud to put our own company on a Bitcoin standard, now we’re enabling other businesses and organizations to do the same.”

BlockSpaces will be a premier Lightning Service Provider (LSP), offering “Super Channels.” As the ultimate set-and-forget solution, businesses will no longer have to manually manage nodes or channels and take advantage of auto-balance, receive, and send specified amounts that scale with channel activity.

“It’s thrilling to announce our product providing businesses a seamless way to tap into the benefits of Lightning,” said Ben Schroth, Lead Bitcoin Developer at BlockSpaces. “Offering automated liquidity management that abstracts the complexities of Lightning will solve glaring problems for business adoption. We strive to make Lightning integration easier than traditional payment rails.”

Lightning Connect will bring the ease of social mobile banking to enterprise-scale with fully managed infrastructure and operations to manage liquidity while reducing capital and resource requirements to run Lightning nodes.

The Lightning Connect waitlist is live and will be available Summer 2022 on the BlockSpaces platform.

latest articles

explore more