According to latest reports, Bitcoin Lightning Network’s payment platform, OpenNode, announced a plug-in for Shopify merchants. In a blog post, OpenNode mentioned a processing fee of 1% for every Bitcoin transaction, instantly leveraging the Lightning Network for Shopify merchants. Additionally, the post also confirmed that all Bitcoin transaction settlements were irreversible. This eliminated the chances of chargeback frauds.
Touted as the leading Bitcoin Lightning Network solution available, OpenNode is a payment platform funded by the American venture capitalist Tim Draper.
According to the post, thousands of Shopify merchants are already accepting Bitcoin payments. However, no confirmation on the integration has been provided by the official social media handles of both OpenNode and Shopify.
In a bid to help developers monetize on the apps created and to further distribute them in the market, OpenNode recently announced a collaboration with Blockstack, a forum for blockchain application hosting service. Following the partnership, interested developers would be provided with free virtual workshops.
OpenNode posted on its official Twitter handle,
“Join us as we partner with @blockstack for our first virtual workshop and learn new ways to monetize your decentralized application through the #LightningNetwork”
The OpenNode-Shopify plug-in has contributed to the cryptocurrency adoption spree in recent months. Additionally, the integration would potentially facilitate mass adoption of Lightning Network payments in the e-commerce sector. Bitcoin Lightning network or the Layer 2 solution seeks to improve efficiency and lower the fees associated with Bitcoin transactions.
Further, the blockchain tech firm Bitfury Group partnered with business payments processor HadePay to bolster Lightning Network payments earlier this month. This integration will enable businesses to accept payments over the Lightning Network.
Another firm to join the bandwagon is the Singapore-based crypto exchange, Zebpay. The platform announced the integration of Lightning Network functionality and offered wallet options to its users on its platform to send payments via the Lightning Network.
Subscribe to AMBCrypto’s Newsletter
XRP tops Weiss Crypto Ratings, Tezos pumps by 15% and more
Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.