As per the latest reports, Bitcoin Suisse has made an announcement in regards to the integration of the Lightning Network. The cryptocurrency financial services provider has announced that they will soon be incorporating the Lightning Network for Bitcoin (BTC) transactions.
Bitcoin Suisse has announced that with the incorporation of the Lightning Network, they will be able to offer a lot of convenience to the users. The users will be able to process Bitcoin transactions that will be faster and cheaper.
Bitcoin Suisse is a financial services provider in the cryptocurrency industry that is based in Switzerland. With the integration of the Lightning Network, Bitcoin Suisse has become the first-ever cryptocurrency payment services provider in Switzerland to have integrated the particular technology.
Even the local press has covered the topic, talking about Bitcoin Suisse being the first financial services provider. The information has been communicated by the local press on November 10, 2021.
Bitcoin Suisse Pay’s head, Armin Schmid, talked about the progress and the recent development of the company. Schmid stated that they are glad that they were able to come up with something that is going to prove really useful and efficient for the users.
With the integration of the Lightning Network, they will be able to offer so much to their users. They are aiming to increase the user base and attract as many customers as possible. With the help of the new technology, they will be able to drive mass adoption to their platform. Additionally, the platform would also provide a lot of support in terms of scaling cryptocurrency applications.
With the integration of the Lightning Network, the game has been upped in terms of transaction speed as well as transaction fees for Bitcoin. The technology is going to prove a game-changer in the Swiss market. Additionally, their integration of the Lightning Network is going to prove to be a huge breakthrough in the innovation sector.
Schmid stated that with the integration of the Lightning Network, they will be able to provide merchants and consumers with second-layer technology that will be cutting-edge. Additionally, the merchants and consumers at Worldline and Bitcoin Suisse will be able to carry out transactions much faster.
It was towards the end of the year 2020 when Bitcoin started picking up the pace in terms of price, growth, and adoption. This is when things started getting difficult for the Bitcoin network as the transactions started getting clogged and delayed on the network. In addition to that, the network also started becoming very expensive in terms of transaction fees.
The Lightning Network is the answer to the concerns that were raised by the Bitcoin community. Over time, the Lightning Network has been adopted by several firms from around the world. Even Square and Twitter have reportedly adopted the Lightning Network.