today, Boltz Announced the launch of the Boltz BTCPay plugin, the first feature of its kind, in open beta. The plugin allows merchants using the BTCPay server to easily accept Bitcoin via Lightning before it is automatically exchanged and stored non-custodial on their account. Liquid network.
Uses the “Nodeless” mode of the Boltz BTCPay Plugin Liquid swaps To automatically switch from Lightning to Liquid once your Lightning bill is paid. Using Liquid Swaps, Boltz BTCPay Plugin users can also swap Bitcoin back to the main chain if they prefer. The plugin comes with an integrated wallet system, which enables users to create or import both liquid and mainchain wallets.
“Merchants can receive or accept bitcoin by swapping incoming Lightning payments into their Liquid wallets, and in this way, they don’t have to run a node,” Boltz CEO Kilian told Bitcoin Magazine.
“What they ultimately hold is LBTC – Liquid BTC,” he added.
“We also want to give them the option to automatically return to the mainchain if they choose. They can say, ‘Okay, if my Liquid Bitcoin balance reaches 0.1 BTC, or 0.5 BTC, trade it back to the mainchain.’”
Traders remain in control of their funds at all times while using the service.
Boltz designed the plugin to help alleviate the anxiety that comes with running and managing a Lightning node.
“Running and managing a Lightning node is no easy feat,” Boltz CTO Michael said in a press release. “Channel management is complex and incoming liquidity can be a foreign concept.”
Killian echoed Michael’s sentiment, saying that “running your own Lightning node is neither a realistic nor a recommended goal for many individuals, and even professionals like traders, as of today.”
Previous solutions for accepting Lightning payments without running a node were custodial, introduced counterparty risk, or were only available in certain jurisdictions.
Since this plugin is brand new and the first of its kind, the Boltz team pointed out that although the software is ready to use, users should do so with caution as it may still contain bugs. Kilian shared that the plugin has already handled thousands of transactions and that Nervouslyan online marijuana seller, is now all in on it.
“After one month of testing the Boltz add-on in front of thousands of users, I can say this is truly a game-changer,” said Strainly CEO Alan, who has previously had mixed success using Lightning custodial solutions like LNBank and other Lightning providers. (LSPs) “Processing LN payments directly to and from a non-custodial Liquid wallet, as well as automatically merging my Liquid balance into my non-custodial BTC wallet according to my pre-set limit: Distribute the most impactful plugin ever on BTCPay!”