Awabar Fukouka is a bar in Japan that partnered with a local protocol developer of Lightning Network, called Nayuta, to permit the customers to pay for wine, as well as other beverages by using the layer-two crypto payments channel.
The adoption of Lightning Network increases
During June, Nayuta, which is the tech firm based in Japan, is going to work with this bar, to test the payment system powered by LN in what was called a “field test.”
Notably, Lightning Network saw increased levels of adoption in the last several months as its supporters believe that it is actually the best approach towards scaling the Bitcoin or BTC blockchain. But, the developers of Bitcoin Core, as well as other organizations like Casa, which supports its development too, cautioned the users that Lightning Network is still in its experimental stages.
While it is still reasonably risky to use, the management of Nayuta plans to analyze how the second-layer cryptocurrency payments channel works in the real world scenarios. The developers at Nayuta have the intention to conduct research which is going to permit them to determine what the improvements that may be made to the LN protocol are.
Awabar delighted to experiment with Nayuta’s payments tech
In fact, acknowledging that their only role in this project is small because the bar didn’t develop the software based on LN, the owners of Awabar said that they are actually delighted to experiment with the crypto payments technology of Nayuta.
In the statements which were shared with several sources, the owners of the bar in Japan stated that they hope it helps familiarize the community with the LN payment system.
To demonstrate how the Bitcoin payments are going to be processed, with the use of the app of Nayuta, which actually operates on BTCPay, which is an open-source cryptocurrency payment processing service, the developers of the software have released one video that shows how the application settles the transactions.
Notably, the team members of Nayuta are very well-known for the creation of specifications for LN. The blockchain development firm has recently released its own version of the Lightning Network protocol which was designed specifically for devices and applications for IoT or internet of things.
Bitfinex to launch USDT powered by LN
The key idea behind the new LN software of Nayuta is to permit household appliances like refrigerators and TVs to easily connect to the internet, as well as efficiently share data.
A lot of organizations and companies are developing solutions with the use of the Lightning Network. On the last day of May this year, the management at Bitfinex, a digital asset exchange registered at the British Virgin Islands, and operated by Hong Kong, revealed that they have the intention to launch the USDT stablecoin of Tether on an LN protocol-enabled network.
According to the 1ML data, there are right now 8,619 LN nodes and up 4.5% in the last 30 days. Right now, there are 35,736 LN channels which are situated around the world, and the total capacity of the layer two network stands at almost 1,013 BTC – an amount which is right now valued at more than $8.9 million.