- This will reduce the number of failed transactions
- And in theory will increase the popularity of Lightning technology
Jack Dorsey’s public payment company Block has been working on its own crypto wallet for a long time. They recently introduced a new C= technology into it. It makes it easy for businesses to connect to BTC payments on the Lightning Network.
The goal of the product is to provide another 100 million people with a secure way to manage their BTC.
Block said it will use its own bitcoin reserves to provide liquidity on the Lightning Network. This will reduce the number of failed transactions on the blockchain due to lack of liquidity.
By creating a new wallet, Block wants to make it easier for people to manage their bitcoins. For beginners, this is still a difficult task at times. It is easy to make a mistake, and unfortunately, blockchain technology is merciless in such moments.
Interestingly, in the new Block Wallet, partners are an important part of the ecosystem. This is stated in the project blog:
“Through global and local partnerships with exchanges and other partners, we provide users with a seamless and transparent buying and selling experience.”
Judging by the screenshots, users will have the opportunity to choose between different providers when buying and selling transactions. Last month, the Lightning Network throughput reached a record high.
