In the present day, Boltz introduced the launch of the Boltz BTCPay Plugin, the primary function of its form, in open beta. The plugin lets retailers who use BTCPay Server simply settle for bitcoin over Lightning earlier than having it mechanically swapped and saved non-custodially on the Liquid Community.
The “Nodeless” mode for the Boltz BTCPay Plugin makes use of Liquid Swaps to make the automated swap from Lightning to Liquid the moment a Lightning bill is paid. Utilizing Liquid Swaps, Boltz BTCPay Plugin customers can even swap bitcoin again to the mainchain if they like. The plugin comes with an built-in pockets system, which permits customers to create or import each Liquid and mainchain wallets.
“Retailers can obtain or settle for bitcoin by swapping incoming Lightning funds into their Liquid wallets and, like this, they don’t should function a node,” Kilian, CEO of Boltz, informed Bitcoin Journal.
“What they’re holding in the long run is LBTC — Liquid BTC,” he added.
“We additionally need to give them an choice to mechanically swap again to the mainchain in the event that they so select. They’ll say, ‘Okay, if my Liquid Bitcoin steadiness reaches 0.1 bitcoin, 0.5 bitcoin, swap it again to the mainchain.’”
Retailers stay answerable for their funds always whereas utilizing the service.
Boltz designed the plugin to assist alleviate the nervousness that comes with operating and managing a Lightning node.
“Operating and managing a Lightning node isn’t any simple feat,” mentioned Boltz CTO Michael in a press launch. “Channel administration is advanced and inbound liquidity might be such an alien idea”.
Kilian echoed Michael’s sentiment, as he shared that “operating your personal Lightning node is neither a sensible nor really helpful objective for a lot of people, and even for professionals like retailers, as of as we speak.”
Earlier options for accepting Lightning funds with out operating a node had been custodial, launched counterparty danger or had been solely accessible in sure jurisdictions.
On condition that this plugin is each model new and the primary of its form, the staff at Boltz famous that whereas the software program is prepared for use, customers ought to accomplish that with warning as a result of it may nonetheless have bugs. Nonetheless, Kilian shared that the plugin certainly has dealt with 1000’s of transactions and that Strainly, a web-based marijuana vendor, is now fully operating on it.
“After one month testing the Boltz plugin in entrance of 1000’s of customers, I can inform this really is a game-changer,” mentioned Alan, CEO of Strainly, who beforehand had blended success utilizing custodial Lightning options like LNBank and different Lightning Service Suppliers (LSPs) “Processing LN funds straight to and from a non-custodial Liquid pockets, plus mechanically consolidating the Liquid steadiness to my non-custodial BTC pockets based on my very own preset threshold: palms down probably the most impactful plugin ever launched on BTCPay!”
