Bitcoin ATM

The cryptocurrency trading platform based in Austria is famous for launching the first Bitcoin ATM. It conducted the first Bitcoin ATM transaction with the help of LN (Lightning Network).

They already succeeded in conduction the first off-chain ATM Bitcoin transaction with the help if Lightning Network.

A Bitcoin scalability problem can be solved through the second-layer LN, while it makes it possible to conduct chain-off transactions coming through almost instantly. The transactions fees are almost zero in that case, and it might reclaim the small-value transactions system. The Lightning Network is still being tested. It may brag about 1000 payment channels, and incorporates active nodes.

Last month, a user purchased an internet router through the Lightning Network payment. It was achieved thanks to Zap cross-platform LN wallet beta version, issued by Jack Mallers. That wallet simplifies the procedure of the LN setup on testnet, as well as mainnet.

The Lightning Network is still not perfect and cannot be released officially, and might have lots of surprises for the one who is going to use it at the moment. For example, bugs messing up transactions and causing loss of your funds.