Node infrastructure provider BlockSpaces adds Lightning Network support for bitcoin » CryptoNinjas

BlockSpaces, a blockchain node infrastructure provider, has announced that it will soon launch its Lightning Connect; A simplified, non-custodial lightning network node management solution designed to enable fast, low-fee Bitcoin (BTC) -based payment processing.

Lightning Network is a layer-to-protocol that locks off transactions in off-chain smart contracts through a process called “channels” that are connected to on-chain bitcoin transactions.

For example, the protocol maintains Bitcoin security while enabling fast transactions.

With this addition, BlockSpaces continues to expand its infrastructure, which currently supports more than 10,000 blockchain nodes worldwide.

Management with the BlockSpaces platform

Lightning Friend Connect will add auto-provisioning and management of Lightning Nodes for businesses to facilitate network use while maintaining full ownership and control of their funds.

Users can manage their nodes through the blockspace interface where an overview of Bitcoin balances, recent shipments (through the integration of a BTCPay app), and channels and liquidity will be displayed.

“We are excited to announce our Enterprise-Grade Lightning Node. It’s been a long time coming, because I’ve been watching the Lightning Network progress year after year. “
– Gabe Higgins, co-founder and chief blockchain officer at Blockspace

BlockSpaces will be a premier lightning service provider (LSP), offering “super channels.”

Those who want to use Lightning no longer have to manually manage nodes or channels and can now take advantage of automatic balancing, receiving and scaling with a certain amount of channel activity.

Lightning Connect brings users fully managed infrastructure and operations to manage liquidity while reducing the need for capital and resources to operate lightning nodes.

Lightning Network basically improves the scalability of Bitcoin:

• Quick Transactions – Transactions can be disposed of instantly. Speed ​​Internet Native.
• Lower transaction fees – Fees are lower than lightning. Less than one taka.
• High throughput – Lightning can handle millions of transactions per second.
• Security and Confidentiality – Since transactions are off-chain, it is difficult to find payments through the network.

Recently, BlockSpaces discontinued a $ 6M funding round ramp development and accelerated growth.