CoinGate to Integrate Lightning Network for Bitcoin

CoinGate has unveiled sandbox testing for Lightning Network, making the Lithuanian payment processor one of the first businesses to integrate the Bitcoin scaling solution.

After implementing SegWit addresses in December 2017, the move is CoinGate's second Bitcoin-friendly addition - taking the platform a step closer towards its goal of being the first to integrate Lightning Network support for both Bitcoin and Litecoin.

A self-declared Bitcoin advocate, CoinGate appears to be eager to propagate BTC's utility as a means of payment.

A second-layer solution to Bitcoin's transaction "Bottleneck", Lightning Network offers near-instant transaction, improved privacy, and trust-less atomic swaps - all significant improvements for any processor of Bitcoin.

Handling an average 800 orders per day, CoinGate would certainly be one of the biggest beneficiaries of Lightning Network's propagation - likely explaining why they describe it as "The most awaited upgrade to the Bitcoin network".

All promises aside, the fact remains that Lightning Network is in its infancy - the kinks being ironed out in its current beta release.

Big day for bitcoin, Lightning goes live on mainnet! ⚡ . Announcing the first Lightning beta release for the live bitcoin network, lnd 0.4.

In a lengthy post on Reddit, the payments processor invited punters to use Lightning Network to purchase a "Virtual cup" of coffee on the platform's test shop - also welcoming expressions of interest for any merchant wanting to accept BTC via Lightning Network.

The first payment giant to toy with Lightning Network, CoinGate's instance of Lightning Network is a significant milestone in more ways than one.

Some may view it as a pivotal moment for the payment processor, some a victory for Lightning Network, and many will likely consider its bearing over Bitcoin's welfare - reviving the possibility of Bitcoin's utility for the everyday transaction.