Blockstream Unveils New Payment Processing System and Online Store

Blockstream has unveiled a new micropayment system that will make it easier for developers to build bitcoin apps on top of its Lightning Network. Lightning Charge is the new system, written in node.js with features that can be accessed through JavaScript and PHP libraries.

Implementation of C-Lightning in the Lightning Network will simplify the process of coming up with Lightning powered payments applications. C-lightning might be a low-level technology, however, various developers’ tools can unlock its true power.

Lightning Network has emerged as one of the most talked about bitcoin solution, given that it does not change the underlying technology powering the popular cryptocurrency. The network just like blockchain is decentralize, which means no online payment center or credit card company can authorize transactions on the network.

Users connect to the network by creating multiple payment channels without having to rely on a third party. Prepaid phone payment provider, Bitrefill is one of the early adopters of the new system having used it to top up a cellphone.

In addition to making it easy for developers to come up with bitcoin apps, Lightning Network strives to reduce the transaction costs synonymous with the digital currency. Plans to reduce transaction speeds also explains why it has received positive reactions from blockchain enthusiasts on social media.

First, to echo support for the new system is pioneering evangelist Andreas Antonopoulos who remains confident in lightning’s ability to solve issues that have stiffed widespread adoption of bitcoin.

’I’m not only confident that we will be able to achieve tremendous scaling with Lightning Networks, but I think we will also be able to achieve that in a scale-free manner, and we will also get much better security and privacy,” said Mr., Antonopoulos.

The bitcoin startup has also unveiled a new e-commerce store dubbed Blockstream Store as it looks to validate its new payment system. The e-commerce site is built on WordPress and WooCommerce. It also has connections to lightning charge and c-lightning. The store allows users to it make use of lightning micropayments to make small purchases of things like T-Shirts and stickers.

According to Blockstream, the demonstration should pave way for mass adoption of the micropayment solution as a real-world functionality. Given that, the new system is still work in progress the company warns that use of the store is ‘at your own risk.’