Sentences with phrase «fast payment channel»

Do we want an accessible, fast payment channel?

Not exact matches

Masterpass QR which is a global digital system for Merchants, small and informal micro merchants, large corporate organizations and governments give customers access to fast, simple and secure digital payments options by using mobile phones, as customers now have the freedom to shop across devices and channels.

The Vice President who recently launched the mobile money payments interoperability system in Ghana maintains that, with other electronic payment channels such as the e-bills pay, instant pay and the introduction of the national identification card, the nation's ability to move faster towards a cashless system, stamping out corruption and turning around the fortunes of the economy, is assured.

At the same time, end users stand to benefit from fast transactions and lower prices as providers can afford to let go of the commissions and third - party fees which they would have otherwise incurred over conventional distribution channels like banks or other payment brokers.

Payment channels allow two users of Bitcoin to transact commitments to pay back and forth between each other much faster and more fluidly than Bitcoin's 10 minute block times would normally allow.

Lightning is a peer - to - peer network of payment channels built on top of the public Blockchain that can facilitate fast and secure transactions.

Van Niekerk believes the digital currency is faster and has lower fees when compared to making payments through normal banking channels.

A faster, cheaper, and more functional network would deliver real value to our users, so we were excited by the growth of research into payment channel technology on the bitcoin network and innovative uses of this technology.

Later that same year, researchers from the technical university in Zurich (ETH Zurich), Dr. Christian Decker (now at Blockstream) and Roger Wattenhofer, proposed yet another overlay network design in their white paper «A Fast and Scalable Payment Network with Bitcoin Duplex Micropayment Channels.»

After opening this payment channel, participants can make private, fast, cheap transactions over the network without creating any on - chain transactions.

By embracing modularity, the main Bitcoin blockchain can act as a maximally secure settlement layer, while second layer payment channels serve as pipelines for fast, high liquidity transactions.

Fast forward to the fall of 2017 and this is exactly what transpired, with the first atomic swap between Litecoin and Bitcoin being successfully completed in an off - chain payment channel.

Lightning Network and Bolt both enable fast and cheap transactions by using bidirectional payment channels.