{"id":10218,"date":"2023-07-19T00:08:38","date_gmt":"2023-07-19T00:08:38","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10218"},"modified":"2022-05-17T02:35:47","modified_gmt":"2022-05-17T02:35:47","slug":"lightning-network-comes-to-bitnovo-what-does-our-ceo-think","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think","title":{"rendered":"Lightning Network comes to Bitnovo! What does our CEO think?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#%e2%80%93_why_is_it_important_for_bitnovo_to_have_its_own_lightning_node\" >\u2013 Why is it important for Bitnovo to have its own Lightning node?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#%e2%80%93_how_important_is_ln_to_bitcoin\" >\u2013 How important is LN to Bitcoin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#%e2%80%93_do_you_think_we_will_see_a_greater_adoption_of_this_technology_in_the_future\" >\u2013 Do you think we will see a greater adoption of this technology in the future?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#%e2%80%93_when_do_you_think_bitcoin_will_finally_be_used_as_a_payment_method\" >\u2013 When do you think Bitcoin will finally be used as a payment method?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#%e2%80%93_do_you_think_it_is_important_that_other_companies_in_the_sector_join_this_initiative_to_promote_the_use_of_lightning_network\" >\u2013 Do you think it is important that other companies in the sector join this initiative to promote the use of Lightning Network?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#-what_other_rdi_advances_research_development_and_innovation_is_bitnovo_currently_working_on\" >-What other R+D+I advances (research, development and innovation) is Bitnovo currently working on?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#%e2%80%93_how_do_you_see_the_spanish_crypto_market_in_terms_of_technological_developments_innovation_and_creativity\" >\u2013 How do you see the Spanish crypto market in terms of technological developments, innovation and creativity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/lightning-network-comes-to-bitnovo-what-does-our-ceo-think\/#%e2%80%93_what_points_should_i_improve_in_spain_if_i_want_to_be_a_crypto_power\" >\u2013 What points should I improve in Spain if I want to be a crypto power?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>We are proud to announce that Bitnovo now\u00a0<strong>has its own Lightning Network node!<\/strong>\u00a0powered by our incredibly talented innovation and development team.<\/p>\n<p>And of course, how can we not flatter them in such a way, if thanks to them Bitnovo becomes\u00a0<strong>one of the first companies in the world to have its own active node!<\/strong><\/p>\n<h4><strong>Why did we do it?<\/strong><\/h4>\n<ul>\n<li><strong>Firstly<\/strong>, because as a company we have a great commitment to the crypto community and its growth. And this helps to enhance the capabilities of the Lightning network and contribute to more users experiencing this technology.<\/li>\n<li><strong>Secondly<\/strong>, because this development will allow our users to make instantaneous and zero-commission network transactions on our platform.<\/li>\n<li><strong>And thirdly<\/strong>, simply because we love to be up to date.<\/li>\n<\/ul>\n<p>For those who don\u2019t know yet, Lightning works as\u00a0<strong>a second layer<\/strong>\u00a0on top of the Bitcoin blockchain and is designed to allow transactions to be executed in the blink of an eye and to make transaction fees literally\u00a0<strong>insignificant.<\/strong><\/p>\n<p>This is done by creating\u00a0<strong>payment channels<\/strong>\u00a0between users outside the blockchain (with total security) and whose final amount is reflected in the original blockchain (onchain). This allows for infinite scalability of the Bitcoin network by not having to record<strong>\u00a0all transactions<\/strong>\u00a0in the blockchain.<\/p>\n<div id=\"image_1616899101\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/lightning-network-bitnovo.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/lightning-network-bitnovo.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/lightning-network-bitnovo-300x205.jpg 300w\" alt=\"lightning network bitnovo Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/lightning-network-bitnovo.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/lightning-network-bitnovo-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/lightning-network-bitnovo.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<p>Transactions in the block chain vs. transactions outside the block chain, thanks to Lightning Network<\/p>\n<p>The launch of our own LN node, aims to\u00a0<strong>promote the growth<\/strong>\u00a0of the Lightning Network, encourage the crypto industry to adopt this technology and allow our users to exchange Bitcoin for other crypto currencies or FIAT incredibly\u00a0<strong>faster and without network fees.<\/strong><\/p>\n<p>To understand the magnitude of this innovative development, we talked with\u00a0<strong>Bitnovo\u2019s CEO and Founder<\/strong>, Marcos Mu\u00f1oz.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%e2%80%93_why_is_it_important_for_bitnovo_to_have_its_own_lightning_node\"><\/span><strong>\u2013 Why is it important for Bitnovo to have its own Lightning node?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Our goal is to provide the best service available to our users, who are the ones we work for every day, and to do so,\u00a0<strong>we must be leaders<\/strong>\u00a0in the application of new technologies. What better way to remain at the forefront than to offer them the possibility of\u00a0<strong>opening payment channels<\/strong>\u00a0with us, through which they can make\u00a0<strong>instant payments<\/strong>\u00a0with bitcoin at\u00a0<strong>practically no cost<\/strong>\u00a0and maintaining the privacy of their data compared to other nodes.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%e2%80%93_how_important_is_ln_to_bitcoin\"><\/span><strong>\u2013 How important is LN to Bitcoin?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This is\u00a0<strong>a crucial development<\/strong>. Public blockchairs like Bitcoin have always been blamed for not being able to be robust, decentralized and scalable at the same time. Bitcoin has been demonstrating its robustness and decentralization for almost 12 years, but it lacked growth at the transactional level. LN will\u00a0<strong>allow you to achieve the desired scalability<\/strong>\u00a0by processing thousands of transactions immediately, without waiting and\u00a0<strong>practically for free<\/strong>.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%e2%80%93_do_you_think_we_will_see_a_greater_adoption_of_this_technology_in_the_future\"><\/span><strong>\u2013 Do you think we will see a greater adoption of this technology in the future?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Absolutely. This exponential increase in the number of\u00a0<strong>transactions processed<\/strong>\u00a0per second will make bitcoin more usable, making it an everyday\u00a0<strong>payment method.<\/strong><\/p>\n<div id=\"image_1758058884\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED.jpg\" sizes=\"(max-width: 899px) 100vw, 899px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED.jpg 899w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED-300x166.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED-768x425.jpg 768w\" alt=\"LIGTHING-NETWORK\" width=\"899\" height=\"497\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED.jpg 899w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED-300x166.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED-768x425.jpg 768w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/LIGTHING-NETWORK.TOTAL_.VALUE-LOCKED.jpg\" data-sizes=\"(max-width: 899px) 100vw, 899px\" \/><\/div>\n<\/div>\n<p>Curve showing the increase of the total value stored in the Lightning Network.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%e2%80%93_when_do_you_think_bitcoin_will_finally_be_used_as_a_payment_method\"><\/span><strong>\u2013 When do you think Bitcoin will finally be used as a payment method?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As for the time frame, it is difficult to make predictions. The Internet started slowly and then\u00a0<strong>it was a boom.<\/strong>\u00a0We have experienced something similar with the passage from cell phones to smartphones. I can\u2019t give you a deadline, but I think the take-off is\u00a0<strong>much closer than we think.<\/strong><\/p>\n<blockquote><p>\u201cSpain<strong>\u00a0is an incredible reservoir of talent,<\/strong>\u00a0but it is necessary to create the right environment to retain them\u00a0<strong>and not to leave<\/strong>\u00a0or take them away because they find a more favorable environment outside.\u201d<\/p><\/blockquote>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%e2%80%93_do_you_think_it_is_important_that_other_companies_in_the_sector_join_this_initiative_to_promote_the_use_of_lightning_network\"><\/span><strong>\u2013 Do you think it is important that other companies in the sector join this initiative to promote the use of Lightning Network?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Of course we do. We are among the first,\u00a0<strong>but it is necessary for others to follow<\/strong>\u00a0and do the same.\u00a0<strong>It will be an excellent sign<\/strong>\u00a0for the market as many more of us are competing, because we will be making the sector grow and mature.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"-what_other_rdi_advances_research_development_and_innovation_is_bitnovo_currently_working_on\"><\/span><strong>-What other R+D+I advances (research, development and innovation) is Bitnovo currently working on?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among other novelties, we are going to launch a TPV so that\u00a0<strong>any store<\/strong>\u00a0<strong>can accept cryptos<\/strong>\u00a0as a means of payment and receive euros without volatility, in which of course payments with\u00a0<strong>Lightning Network<\/strong>\u00a0will be integrated.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%e2%80%93_how_do_you_see_the_spanish_crypto_market_in_terms_of_technological_developments_innovation_and_creativity\"><\/span><strong>\u2013 How do you see the Spanish crypto market in terms of technological developments, innovation and creativity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Spain is an incredible reservoir of talent<\/strong>, perhaps more in quality than in quantity, although it is very positive to see that the sector\u00a0<strong>does<\/strong>\u00a0<strong>not stop growing year after year<\/strong>. There are great ideas and projects underway, but it is necessary to create the right environment to retain them and\u00a0<strong>not let them leave<\/strong>\u00a0or take them away because they find a more favorable environment outside.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%e2%80%93_what_points_should_i_improve_in_spain_if_i_want_to_be_a_crypto_power\"><\/span><strong>\u2013 What points should I improve in Spain if I want to be a crypto power?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Two fundamental aspects:\u00a0<strong>education and regulation.<\/strong>\u00a0It is necessary to educate not only in the new technologies, but in the key concepts on which they are based. We live in a society in which the objective is to train to look for a job and earn money, but we don\u2019t study\u00a0<strong>what money is<\/strong>, so it\u2019s very difficult to explain why\u00a0<strong>Bitcoin is the best money.<\/strong><\/p>\n<p>But for Spain to be a reference in crypto,\u00a0<strong>the most important thing is regulation<\/strong>. It is essential to have an adequate regulatory framework, which\u00a0<strong>promotes entrepreneurship, transmits security and attracts investment.<\/strong>\u00a0Without this, not only will no investors come, but talent and entrepreneurship will sadly continue to emigrate.<\/p>\n<p>If you want to know more about ho<strong>w LN works<\/strong>, see our article:\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-the-lightning-network\/\">What is Lightning Network?<\/a><\/p>\n<p>You can also find a<strong>\u00a0step-by-step<\/strong>\u00a0<strong>guide<\/strong>\u00a0on\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/how-did-we-add-lightning-network-interview-with-jose-molina\/\">how to interact with the Bitnovo node<\/a>\u00a0explained by our blockchain engineer, Jos\u00e9 Molina.<\/p>\n<p>If you already know how to do it, you can check the information of our node in this\u00a0<a href=\"https:\/\/1ml.com\/node\/03dd51b8f575484950cf2c6b6bf4bc94641639da779370563e63b4885e6cbd2743\">link<\/a>\u00a0and open a channel so we can interact directly without routing problems. This way you will be able to\u00a0<strong>send payments as big as you want<\/strong>\u00a0in thousandths of seconds and with zero network commissions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>We are proud to announce that Bitnovo now\u00a0has its own Lightning Network node!\u00a0powered by our incredibly talented innovation and development team. And of course, how can we not flatter them in such a way, if thanks to them Bitnovo becomes\u00a0one of the first companies in the world to have its own active node! Why did [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[331],"tags":[],"class_list":["post-10218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitnovo-en"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10218"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7096"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}