Bitcoin (BTC) Use Cases Increase, BTC Can Now be used to Purchase Pizza on an App Powered By Lightning Network

About ten years ago, when Bitcoin (BTC) was still very fresh and strange to many, Laszlo – a digital currency user – carried out the first real-world transaction with Bitcoin (BTC) in the world. In what became a historical event in this evolving industry, the BitcoinTalk user bought pizza for 10,000 Bitcoins, then the value of the digital currency was way lesser.

Since then, using digital currencies to buy pizza or other types of food, has faded to the back of this collective mind industry. However, a new tech firm has decided to change this with a recent integration/application launched on Bitcoin Lightning Network.

Customers Can Now Buy Domino’s Pizza with Bitcoin (BTC)

A digital currency startup – Fold – recently achieved a great milestone in the digital currency space. The startup, which is founded by Matt Luongo – recently launched a portal that is based on the Lightning Network – the foremost scaling solution of Bitcoin (BTC). The application launched by the startup is now dubbed Lightning Pizza, as it allows users to buy pizza with Lightning transactions.

Transactions on the Lightning Network are almost instant, secure, and effectively free. Will Reeves – the product lead of Fold – made the following statement when he was talking about the newest venture of the firm:

We are trying to make Bitcoin (BTC) fun again and prove that lightning is as a point where it is ready for mainstream adoption.”

The app is presently focused on pizza. However, the firm plans to integrate the solution into Whole Foods, Starbucks, Uber, Target, and Dunkin Donuts in the next couple of months. Nevertheless, the firm explained that these are not official partnerships with the earlier mentioned outlets. The firm achieves this breakthrough via a third-party digital currency-to-fiat system. The system places orders on behalf of consumers and converts their Bitcoin (BTC) into USD through the Lightning Network automatically.

Fold’s Applications Gets Quick Recognition

Within a couple of minutes after the launch of the product, it caught on. Some proponents in the Bitcoin (BTC) development space and in the Lightning Network quickly took to Twitter to talk about the newest invention of Fold.

In a tweet, the community member behind the Trust Chain initiative – Hodlonaut – replied to the firm’s tweet, saying: “A new dawn of Bitcoin (BTC) pizza transaction is upon us. Behold the LN pizza.”

Other consumers actually used the smile-inducing application to buy some pizzas. A research analyst at The Block – Dan – said that while he doesn’t purchase Domino’s, he actually did when LN was integrated into the system.

A venture capitalist at Blockchain Capital – Bart Stephens – also went on Twitter to show how excited he was about the innovation. He even took a photo of one of his colleagues, a Casa node, and a piece of the firm-branded merchandise. This also came right after the CEO of Twitter – Jack Dorsey – said that Square, his fintech startup, will integrate LN in some capacity.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$7,743.00
-1.75%

At the time of writing, Bitcoin (BTC) is trading at $3,670 after an increase of two percent over the past twenty-four hours. The current market cap of Bitcoin (BTC) is $65.08 billion and its trading volume over the past twenty-four hours is $3.41 billion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.