Bitcoin Lightning Network payments app charges no-fees for first $10,000 in transactions

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krisjonn
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06 Feb 2019, 20:43

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The Bitcoin universe has not seen a flurry of positive news in the last few months due to its stint in the longest bearish market in the history of cryptocurrencies. The silver lining that has kept all the Bitcoin ‘HODLers’ engaged in the bitcoin community has been the Lightning Network, a scaling system or a side change which can facilitate a maximum of 628 BTC worth $2.14 million, at the time of writing.

One of the key applications of the Lightning Network is the payment processing app named OpenNode. OpenNode released their public beta last October with the objective to simplify the gap between Bitcoin and everyday life.According to cryptoninjas.com, the team behind the payments app recently announced that it will be reducing transaction fees by offering incentives to the new/existing users an amount of $10,000 worth of free received transactions.

The payments app teamed is optimistic that the announcement will garner a lot of attention from the committee considering on paper it has the potential to effectively increase the popularity of the Lightning Network which can be used for instant and low-cost Bitcoin transactions.

The OpenNode team stated that:


We believe these credits will benefit those who need it the most: growing teams who need a platform to build great products on a reasonable budget or developers who are looking to experiment with bitcoin’s newest technology.”


The regular activities which will be executed after-no fee credits will also cost a minimum fee of just 1% per authorized transaction.

source: https://ambcrypto.com/bitcoin-btc-light ... nsactions/


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