Why Bitcoin

At nolle.engineering, we’re always on the lookout for innovative solutions that can benefit our customers. One such solution that we’ve embraced is Bitcoin, a digital currency that offers many advantages over traditional payment methods. We’ve also harnessed the power of the Bitcoin Lightning Network, a second-layer solution built on top of the Bitcoin blockchain, which further enhances the benefits of Bitcoin for businesses. Here are a few reasons why we believe Bitcoin and the Lightning Network are valuable:

• Decentralization: Bitcoin’s underlying technology, blockchain, ensures a decentralized network where transactions are recorded and verified by a distributed network of participants. This decentralization eliminates the need for intermediaries, allowing for direct peer-to-peer transactions. The Lightning Network builds upon this decentralization, enabling fast and scalable micro-transactions.
• Lightning-Fast Transactions: The Lightning Network is designed to facilitate instant transactions. By leveraging payment channels and off-chain protocols, businesses can enjoy near-instantaneous payments without waiting for confirmation on the main Bitcoin blockchain. This efficiency enables faster point-of-sale transactions, enhanced user experiences, and improved scalability.
• Scalability and Low Fees: Bitcoin’s main blockchain has a limited transaction capacity, leading to potential congestion and higher fees during periods of high demand. The Lightning Network addresses this challenge by enabling off-chain transactions, significantly increasing the scalability of the Bitcoin network. With reduced congestion and lower fees, businesses can process a higher volume of transactions cost-effectively.
• Micropayments and Microservices: The Lightning Network’s micropayment capabilities open up new possibilities for businesses. It enables the monetization of digital content and services on a per-use or per-access basis, fostering innovative business models. By facilitating instantaneous, low-cost micropayments, the Lightning Network unlocks revenue streams that were previously impractical with traditional payment systems.
• Enhanced Privacy: Bitcoin and the Lightning Network offer improved privacy features compared to traditional payment methods. While Bitcoin transactions are pseudonymous, the Lightning Network adds an extra layer of privacy by conducting transactions off-chain. This can provide businesses and users with increased privacy and security for their financial activities.

At nolle.engineering, we firmly believe that embracing Bitcoin, along with the Lightning Network, can revolutionize the way businesses transact, offering speed, scalability, low fees, and enhanced privacy. Join us in embracing this transformative technology and unlock the full potential of digital payments for your business.

Try It Out

We have prepared some minimum cost test items. Just select any of the products below and select bitcoin payment on checkout to explore the payment workflow which we have implemented and to test your own digital wallet.

Payment is possible in both Bitcoin and Bitcoin Lightning.

You can watch the settlement process in real time by copy and pasting the transaction ID into the mempool app.

Please note that any bitcoin transaction is for demonstration purposes only and will not be refunded by nolle.engineering.

Tools

Bitcoin Mempool

The Bitcoin mempool app which you can see below is a tool that helps users track the status of unconfirmed Bitcoin transactions in the network. It provides real-time data on the size of the mempool, transaction fees, and estimated confirmation times. This app is useful for those who want to optimize their Bitcoin transactions by paying the right fee to get their transactions confirmed quickly.

Right click on the mempool logo and open in a new tab to get a full page view.

How to get inbound liquidity on your Lightning node

Liquidity swap is a feature of the Lightning Network that allows users to exchange their incoming liquidity (funds available in their payment channels) for outgoing liquidity (funds needed to make payments to other Lightning Network users) in a trustless manner. This is done by opening a temporary payment channel with a Liquidity Provider node, which acts as an intermediary between the two parties. The swap is facilitated by a smart contract, and the transaction fees are split between the parties involved. lightningnetwork.plus is a service that offers liquidity swap as a way to help users maintain balanced payment channels and improve their overall Lightning Network experience.

References

For reference you can find the original bitcoin white paper by Satoshi Nakamoto and the Bitcoin Lightning Network by Poon and Dryja.