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Bitcoin Lightning Network Payments Now Accepted by Amazon, Uber and Other Retailers

  • Alex Dovbnya
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    🕴🙏Cryptocurrency startup Fold promises fast Bitcoin payments after integrating Lightning network functionality💳🛠


Bitcoin Lightning Network Payments Now Accepted by Amazon, Uber and Other Retailers
Contents

Cryptocurrency payment app Fold has added Bitcoin’s Lightning Network support, thus allowing its customers to make instantaneous payments. The app is supported by such retail giants as Amazon and Uber.

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The ugly side of Bitcoin

Fold, the startup that appeared on the market back in 2014, is considered to be a trailblazer in the realm of cryptocurrency payments. 

After its initial success, the company hit a snag when Bitcoin broke into the mainstream. The network became too congested and the fees became too high for Fold to function properly.

Long confirmation times and, especially, high on-chain fees made it unworkable for most consumer and retail situations,” claims Fold CEO Will Reeves.

The startup wasn’t alone — a similar issue was faced by numerous other merchants that started accepting Bitcoin. Steam, the largest gaming market, jumped ship “due to high fees and volatility,” which was considered a smart move by Valve.

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The solution is here

Merchants pulling the plug on Bitcoin prompted the need for a viable scaling solution, and Lightning Network, a “Layer 2” protocol of the Bitcoin network, came to the rescue. 

Reeves is certain that the recently introduced solution will actually make Bitcoin payments work. Back in February, Fold launched Lightning Pizza to test out the new payment option.

We launched Lightning Pizza to test a hypothesis that if Bitcoin payments were as easy and rewarding as using a credit card, people would change their habits around spending”

Despite offering fast and cheap transaction, Lightning Network mostly remains under the radar. However, its adoption has so far witnessed a steady growth in 2019. Electrum, for instance, is set to become the first major cryptocurrency wallet to integrate it later this year.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Has #XRPArmy Turned Against Ripple? Not Really

  • Alex Dovbnya
    📰 News

    XRP’s recent drop below the $0.30 level was a major test for Ripple’s Twitter army, but they won’t abjure their allegiance


Has #XRPArmy Turned Against Ripple? Not Really

Tiffany Hayden, one of the most vocal members of the XRP army, has been suspected of becoming a non-believer after questioning the strength of the Ripple network. 

That conveniently coincided with the XRP price nose-diving below the $0.30 mark due to the continuous market sell-off.

Everyone who keeps tabs on crypto Twitter has hardly seen any negative comments about Ripple posted by Hayden. However, she recently assumed that the network wouldn’t last much longer if Ripple shuttered that night.

There were legitimate reasons to believe that this might be the case given the painful experience of Stellar, which is considered to be Ripple’s direct competitor.

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However, despite these concerns, Hayden made it absolutely clear she hasn’t lost her faith in XRP, claiming that she would rather sell a kidney than her bags of Ripple’s native token.  

She later clarified that the kidney wouldn’t be her own (hopefully, she was joking).

Notably, Ripple’s XRP turned out to be one of the best-performing currencies during the recent sell-off, clinging onto the $0.30 price tag. 

XRP records a modest drop
Image by CoinMarketCap

Still, its underwhelming overall performance in 2019 made many XRP investors reconsider their loyalty.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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