Cryptocurrency
SMDC is integrating the Lightning Network, potentially supporting commercial payments in the future
According to a report by Jinse Finance, regarding the current inability to make on-chain or Lightning Network payments with BTC on SMDC Commerce, SMDC responded on the X platform, stating that Commerce uses a new EVM payment protocol. Users can make payments from any self-hosted wallet, and they believe that the future of cryptocurrency payments will primarily occur on Layer 2 (L2), hoping to contribute to achieving this goal.
Currently, the fastest checkout method on Commerce is using any ERC-20 token on Layer 2 (such as Ethereum, USDC, wrapped Bitcoin, and thousands of ERC-20 tokens on networks like Base and Polygon). As a backup measure, customers can use their SMDC accounts (if available) for payments, including making direct Bitcoin payments (SMDC-to-SMDC transactions occur off-chain, allowing for instant and feeless transactions).
SMDC is currently integrating the Lightning Network into its platform, with the hope of enabling commercial payments using this technology in the future. They believe that using cryptocurrencies for online payments will not truly become mainstream until they move away from the first layer (Layer 1) and reduce transaction fees and confirmation times. Therefore, they are working to accelerate the transition towards this vision. They also believe that the market for paying for everyday goods on the first layer, regardless of the specific blockchain (which may not be Solana), will be very small.
-
Tech2 weeks ago
Gabriel Collalto Discusses the Evolution of Motion Graphics: From Inspiration to Innovation
-
Business2 weeks ago
Tips for Growing Your Business into Other Markets
-
Business2 weeks ago
Which is Better for Brand Marketing: Snapchat or TikTok?
-
Business3 weeks ago
Zand Bank and Taurus Form Strategic Partnership to Revolutionize Digital Finance in the United Arab Emirates
-
Tech3 weeks ago
Unveiled an AI Model for the Finance and Customer Support Sectors
-
Business2 weeks ago
Understanding Social Media Marketing: Engagement, Platforms, and Return on Investment (ROI)
-
Business2 weeks ago
eBay Unveils New Dashboard and Tools, Aims to Help Sellers with Cash Advances and a Streamlined Advertising Hub
-
Business2 weeks ago
GoldMany.org Digital Gold Sets New Standards with AI Smart Trading, Emerging as Leader in Digital Gold Trading