Developer and researcher Felix Weis has successfully executed as a PoC the first ATM Bitcoin transaction on the Lightning Network in the world.
Yesterday, March 31, Weis has publicly shown a transaction via the Lightning Network at a BTC ATM during the Lighting Hackday in Hong Kong.
Here’s how Weis described the transaction:
“Just a proof of concept ‘top up your existing channel.’ Lots of bugs but two different mobile wallets worked fine.”
Bitcoin Lightning network capacity rises over 1,000 BTC
The crypto industry becomes more and more enthusiastic about the Lightning Network because it can offer lower BTC transaction fees while at the same time making it possible to execute near-instant transactions.
Bitcoinist writes that the demo of making BTC ATM payment over the LN come right after Weiss Crypto Ratings upgraded BTC from a C to a B which is good because its tech has improved quite significantly.
The online publication also writes that “Weiss highlighted these conclusions in a comprehensive report on the crypto market entitled “Dark Shadows with a Bright Future,” published in March 2019.”
Rockstar @FelixWeis buying bitcoin via Lightning at an ATM. #LightningHackdayHK at @bitworkasia pic.twitter.com/VmsK2GSaB2
— Bitcoin Association 香港比特幣協會 (@bitcoinorghk) March 31, 2019
BTC’s tech has improved
It seems that their evaluation involved four factors: adoption rate, technology, risk, and reward.
More than that, it also highlighted the effect of the advent of the LN in the upgrade:
“Bitcoin has been upgraded with the roll-out of its Lightning Network and is the best positioned to become a popular store of value for savers and investors.”
Other than this, the crypto space is looking good with various bullish predictions regarding BTC and altcoins’ prices popping up almost on a daily basis.
2019 has been predicted to be a better year for crypto and one of the main goals that have been set for this year is crypto mass adoption. More experts have also said that we’re out of the crypto winter.