Lithuanian data center
Bacloud.com is starting to accept Bitcoin payments through the Lightning Network ( LN ) for all data center services like dedicated servers, VPS hosting, domains registration, etc. LN is the next major technological innovation in the Bitcoin space. Although it is still at it’s early stages and more suitable for advanced technical users, LN is, with no doubt, the most awaited upgrade to the Bitcoin network.
Cheaf Commercial Officer of
Bacloud.com data center Andrius Petkus tells:
"We understand the importance of going step by step with technologies and offer our customer's instant domain registrations or instant other services. Customers do not like to wait until the payment will be confirmed by miners, they like to get and use services straight away. We always get many questions, such as: why payment was not applied to invoice, when our customers will get services activated, etc. It helps to eliminate long confirmation procedure and Bitcoin currency may be used as a day to day cash payments using Lightning Network".
"Bacloud uses
CoinGate.com services for merchants to accept Bitcoin and more than 50 crypto currencies. Our clients are very happy with their payment processor, it is very easy to use. We started to use CoinGate to accept Altcoin payments only, but our clients saw the benefits and naturally switched to pay Bitcoin bills using their system. Every month we have thousands of payments, never had any issues with their system. LN is a next step, We appreciate the opportunity to contribute to the development of Lightning Network".
Why is Lightning Network exciting?
As a second layer solution, LN brings a number of improvements to Bitcoin as a currency and protocol:
1. Thousand-fold increase in network capacity (transactions per second).
2. Network confirmations no longer needed to trust incoming transactions.
3. Trustless crypto-to-crypto trades, called Atomic Swap.
4. Improved privacy: only senders and recipients can see transactions.
5. Micro-, pico- and nano-transactions, as small as 1/1000 of a Satoshi.
6. Potential for real-time trading directly from a controlled wallet.
Thaddeus Dryja and Joseph Poon first proposed the Lightning Network in a 2015 white paper as a solution built on Bitcoin. The goal of the network is to make bitcoin more of a day-to-day currency that can be useful for daily trade and micropayments.
