Bitfury is a well-established Bitcoin mining and development company, which has announced its partnership with a US startup dealing in payment processing called HadePay. The partnership would see BitFury bringing the off-chain transaction processing solution Lightning network to the payment portal.
The addition of Lightning Peach API to HadePay would allow the portal to process transactions much faster and cheaper than traditional Bitcoin payment portals. The startup has worked closely with Bitfury’s lightning network team, which is taken care of by a group of engineers mainly focused on promoting the use of LN.
HadePay and its Area Of Operation
HadePay as a payment portal already allowed its clients and users to accept crypto payments as well as fiat currencies. The platform also accepts payments from other well-known portals like PayPal and Square.
The head of the BitFury Lightning peach team, Pavel Prikhodko was quite excited with the partnership and believes it would be mutually beneficial for the startup and the Lightning network API. He recently wrote a blog post over the latest development, here’s an excerpt from the blog,
“The Lightning Network is an essential tool for efficient cryptocurrency payments, and we’re thrilled to be bringing it that much closer to worldwide adoption.”
Bitfury has been pushing and promoting the use of Lightning network for most of its partners. It’s first crypto exchange partner from Poland BTCBIT also incorporated the LN API on their exchange.
The Lightning Network has been receiving a lot of flak recently from various corners of the crypto space, however, the promoters of the project are hell-bent on proving that Lightning Network is the only current solution to the scalability issues on the Bitcoin network. The LN has been promoted by various well-known personalities in the crypto space including Twitter CEO Jack Dorsey.
The criticism of the network mainly comes in the form of technical limitation and the level of centralization that the off-chain solution posses. However, none of the flag bearers of the LN development team have come out to accept the flaws. They do acknowledge the issues but always maintain that once the network is completely developed, it would be much more refined and might take up to millions of transactions away from the main Bitcoin network.