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Considering the persistent problems with the system at this moment, the fast and cheap transactions of Bitcoin (BTC) may seem like a distant dream, but its realization could be just around the corner. The first transaction that uses real bitcoins to make a payment on the Lightning network has recently been completed through the Bitrefill mobile recharge service.
Software developer Alex Bosworth has revealed that he successfully completed the first Lightning Bitcoin Mainnet transaction (not a test environment) for an online purchase at Bitrefill. He paid his own phone bill without charges, which was executed instantly. Bitrefill is an online service that allows users to complete their prepaid mobile phone plans with bitcoin and litecoin with more than 600 operators in 150 countries.
Alex Bisworth posted on his twitter account:
Mainnet Lightning Network pays my current phone bill with real Mainnet funds at @bitrefill. Speed: Instant. Rate: zero Future: Almost here. "
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Lightning Network is an escalation solution that has been developing for some years. The protocol creates an off-chain system by forming a network of payment channels where the funds are not entrusted to a third party. Theoretically, it promises to scale the bitcoin by allowing thousands of transactions per second without compromising its insecure nature.
The CEO of Bitrefill, Sergej Kotliar, explained the motivation of his development for his team:
As we all know, blockchains do not currently scale for consumer payments and currently require trade-offs between decentralization and efficiency. Lightning is a tool that allows the best of both worlds: a great customer experience (fast and cheap), but also a safe custody of funds. So we are anxious to enable it as a payment method and do everything possible to support developments on that front. "
This payment integration with Lightning has been surprisingly easy and the company is already working on new developments, explained Kotliar. "At the beginning, we allow Bitrefill orders to be paid with Lightning. That is the easiest integration for us. The next step will be to enable full Lightning support (sending and receiving) in our user accounts. "
In regards to how he sees his company's role in the wider development of the network, the CEO said: "A common problem with new technology and innovation is to implement things in production. That is where real problems arise. We are a small company, but we believe it is important to help where we can. In our case, it is at least to implement this new piece of technology as it becomes available and provide evidence. The credit belongs to all independent and corporate developers of the Lightning protocol. "
Recently, Bitrefill made headlines when it came to the rescue of PC players with bitcoin after Steam announced that the popular online gaming store would no longer accept BTC as a payment method. "I can not share the revenue numbers, but I will tell you that sales of Steam coupons far exceeded our expectations," Kotliar said. "We are looking to add more voucher products to our service soon."