Austrian Startup Realizes First Lightning Transaction on a Bitcoin ATM
Another country is becoming visible in crypto development. An Austrian start-up, named Coinfinity has designed a revolutionary technology.
Coinfinity is an intermediate platform between Bitcoin coins and the buyers. It is a development center that invests especially in BTC solutions technologies. The team is based in Graz, Austria.
A team consisting of ten members have created what seemed impossible until now. The start-up company built the first Bitcoin ATM that allows to realize transactions in an offline mode. Yesterday, the platform have announced about their first successfully Lightning Transaction using the Lightning Network (LN).
The platform Coinfinity is already known to be the first company in Austria that operates with cryptocurrency platforms. On 1 February 2018, they have brought to the digital system a new technology that is supposed to change the way Bitcoins are traded.
The new Lightning Network is designed in a unique way. This will allow to realize transactions through off-line payment platforms. However, the payments will be operated at a minimum charge and will be conducted instantly and directly to the destination. Through this innovation, the team behind the company hopes that Bitcoin will become a safe and accepted currency for a large number of merchants.
In January 2018, the Lightning Network has presented its services by purchasing a physical product, namely a TorGuard router. However, the platform has not yet been developed and experimented entirely in many real-life situations, that’s why some analysts recommend users not to rush into investing because they may be left with no funds.
Do you think that the Coinfinity’s new achievement will be a success?