Sentences with phrase «instant micropayments»

With this system, near - instant micropayments using Bitcoin without a 3rd party custodian would be possible.

This may come true thanks to the network's ability to process instant micropayments without creating an on - blockchain transaction.

The creators of this system for instant micropayments estimate that it could eventually be used to process billions of transactions per second.

The Lightning Network expands on the Bitcoin Blockchain's basic transaction functionality by providing a means for users to execute smart contracts on the blockchain itself, providing for a mechanism for users to establish near - instant micropayments without the need to offload transactions to a custodian, which makes small payments impractical because the fees might be more expensive than the transaction itself.

Not exact matches

It is Ethereum's version of Bitcoin's Lightning Network, enabling near - instant, low - fee, scalable micropayments.

The standardization and deployment of the Lightning Network's second - level, off - chain payment layer is expected to result in instant bitcoin transactions, improved scalability and lower fees, enabling fast and cheap micropayments.

While Charles referred to the Lightning Network as «good technology» that will be helpful for enabling instant transactions and micropayments on Bitcoin, he also pointed out a number of caveats to the positive aspects of this new payments technology in the early days of its availability.

According to the authors, lightning networks would enable Bitcoin scalability, efficient micropayments, and near - instant transactions.

Therefore, following the first Bitcoin Lightning Network white paper, published in February 2015, developers have been working on Lightning Network implementations to enable bitcoin scalability, efficient micropayments and near - instant transactions.

The Lightning Network is a decentralized system for instant, high - volume micropayments that removes the risk of delegating custody of funds to trusted third parties.

«We hope to help solve bitcoin scalability and instant transactions, enabling bitcoin to encompass all transactions - even many thousands of micropayments per person,» he concluded.

The site outlines uses such as sharing cash with friends, retail payments, micropayments, and instant token swaps.