Bitcoin Swap Service Boltz Launches BTCPay Server Plugin For Lightning Payments
Today, Boltz announced the launch of the Boltz BTCPay Plugin, the first feature of its kind, in open beta. The plugin lets merchants who use BTCPay Server easily accept bitcoin over Lightning before having it automatically swapped and stored non-custodially on the Liquid Network.
The “Nodeless” mode for the Boltz BTCPay Plugin utilizes Liquid Swaps to make the automatic swap from Lightning to Liquid the instant a Lightning invoice is paid. Using Liquid Swaps, Boltz BTCPay Plugin users can also swap bitcoin back to the mainchain 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, like this, they don’t have to operate a node,” Kilian, CEO of Boltz, told Bitcoin Magazine.
“What they are holding in the end is LBTC — Liquid BTC,” he added.
“We also want to give them an option to automatically swap back to the mainchain if they so choose. They can say, ‘Okay, if my Liquid Bitcoin balance reaches 0.1 bitcoin, 0.5 bitcoin, swap it back to the mainchain.’”
Merchants 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,” said Boltz CTO Michael in a press release. “Channel management is complex and inbound liquidity can be such an alien concept”.
Kilian echoed Michael’s sentiment, as he shared that “running your own Lightning node is neither a realistic nor recommended goal for many individuals, and even for professionals like merchants, 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.
Given that this plugin is both brand new and the first of its kind, the team at Boltz noted that while the software is ready to be used, users should do so with caution because it could still have bugs. Kilian shared that the plugin indeed handled thousands of transactions and that Strainly, an online marijuana vendor, is now completely running on it.
“After one month testing the Boltz plugin in front of thousands of users, I can tell this truly is a game-changer,” said Alan, CEO of Strainly, who previously had mixed success using custodial Lightning solutions like LNBank and other Lightning Service Providers (LSPs) “Processing LN payments straight to and from a non-custodial Liquid wallet, plus automatically consolidating the Liquid balance to my non-custodial BTC wallet according to my own preset threshold: hands down the most impactful plugin ever released on BTCPay!”
Bitcoin Magazine – Bitcoin News, Articles and Expert Insights
