Bitcoin Suisse volition utilise the Lightning Network to make Bitcoin (BTC) transactions both cheaper and faster. It will be the first cryptocurrency payment processor in Switzerland to integrate the technology, according to a press release dated Nov. 10

Armin Schmid, head of Bitcoin Suisse Pay, praised the conclusion, noting that Lightning transactions volition play a significant role in scaling crypto apps and driving mass adoption.

"Lightning transactions enable higher throughput per second at the toll of a fraction of a cent — making them a game-changing innovation for crypto applications."

With the launch of this cutting-edge second-layer Bitcoin technology, consumers and merchants using Bitcoin Suisse and Worldline will be able to acquit faster transactions with lower blockchain costs. The announcement further says that the conclusion is a significant step forward in Bitcoin Suisse's efforts to "promote the broader adoption of crypto technology."

The Lightning Network is a decentralized network built on Bitcoin'due south 2d layer that employs smart contract engineering to construct a secure network and allow modest value transactions at faster speeds and lower costs. In 2022, Joseph Poon and Thaddeus Dryja proposed the Lightning Network protocol in an effort to address Bitcoin'southward scalability issue.

Worldline, the European counterpart of Bitcoin Suisse, will exist able to process transactions made using the Lightning Network. As such, customers and merchants volition benefit from the ease of crypto transactions as a upshot of the Lightning Network integration.

The Lightning Network has attracted attention in contempo weeks every bit a issue of Twitter'due south utilize of it for tipping, forth with the network'southward nationwide rollout across El salvador.

As reported by Cointelegraph, the total capacity of the Lightning Network has seen "explosive growth" in 2022. In September, the network's capacity reached an best high of 2,904 BTC, a rise in chapters of 170% since January. The network capacity will likely increase fifty-fifty more at present that the biggest cryptocurrency broker in Switzerland has incorporated information technology.