The over-the-counter platform for Bitcoin transactions, Hodl Hodl, said that soon will begin to support Lightning Network based on the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details. The press release of the updated functionality was published on the company's official page in Medium.
Hodl Hodl and Lightning Network
As it became known from the press release, the Lightning Network will be tested on Hodl Hodl website. The implementation of the Lightning network at the platform will allow each user to buy Bitcoins and receive them directly into their Lightning wallet, as well as sell the asset directly from their Lightning wallet.
Interesting in the section: Lightning network and new opportunities
According to a press release, the Lightning Network will be available in a new version of Hodl Hodl for the core network, at the end of May of this year. The network will work according to the following algorithm:
- Creating a contract between the parties;
- The seller makes a cryptocurrency from his Lightning Wallet;
- The buyer pays the seller in accordance with the agreed method of payment;
- The seller receives payment directly from the buyer in Lightning Wallet.
In addition, the article states that during the term of the contract funds are stored in the Lightning Hodl Hold Wallet. To get acquainted with the test version of the network, users must register on the official website of Hodl Hodl and connect to the bot program.
"In fact, you do not even need to register, since we have created bot-accounts for testing (you can log in using one of them). In the list of suggestions, you can find users with "-bot" postscript (for example, akeem-bot). These are accounts that you can freely log in to." – Hodl Hodl, Medium.
Hodl Hodl OTC Bitcoin platform will support the Lightning Network. Recall that on May 17, the leading Poloniex crypto-exchange canceled support for 9 cryptocurrencies for American traders.
Editor: Godfrid Brower