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Payment platform Crypto Bitrefill has launched Thor, a service that allows customers to open Lightning channels on demand. Thor will connect to the Bitrefill node on the Lightning network, allowing users to receive Lightning payments, regardless of whether they have loaded bitcoins into their Lightning portfolios or not.
"This service will allow the customer to obtain an empty Lightning channel open from the Bitrefill node on the Lightning network Now anyone can now pay or offer the ability to open a channel to a Lightning wallet to receive payments on Lightning at any time", according to an announcement of the company.
The Lightning Network is a Bitcoin-based protocol that allows instant and inexpensive payments between users, without compromising the security and decentralization of cryptocurrency. With Lightning payments, you can make multiple payments at a small fraction of the cost of a normal bitcoin transaction, since you do not need to adjust each transaction on the blockchain. Transactions are resolved only when the channel is closed.
However, to receive Lightning payments, users must have an open payment channel with at least one other Lightning user on which funds are present their end of the canal. Without this, there is no way to have funds addressed to you. And while it is possible for a payer to open a brand new Lightning channel to a payee when making the initial Lightning payment, this takes time (blockchain confirmation) and money (chain commissions), thus reducing the advantage of Lightning in that instance.
With Thor, users can purchase an empty channel (potentially for their friends or business partners) with crypto. Users do not have to pay money in the payment channel, while Bitrefill manages the channel, funded for 30 days. As such, you can immediately start accepting payments through the Bitrefill channel.
The Bitrefill channel opening service currently works with the command line client LND portfolio and the Bitcoin Lightning Portfolio for Android. Payments for Thor can be made with custom capacity from 300,000 satoshi to 16,000,000 satoshi using Bitcoin, Lightning payments and a range of other payment options. an empty flash channel with custom capabilities of 300,000 satoshi to 16,000,000 satoshi, and payments for the service can be made through a range of options including bitcoins, Lightning payments and existing Coinbase balances.
The Lightning network has continued to grow since its first implementation was announced in March 2018 from Lightning Labs.
As of November 2018, the network was supported by 4,070 nodes, with a collective capacity of 223.65 BTC. At press time, the Lightning network supports 5,241 nodes with a collective network capacity of 563.17 BTC.
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