TL; DR failure:
- Grupo Elektra, a Mexican retail and banking company, supports the Bitcoin Lightning network.
- This network allows faster and cheaper transactions with Bitcoin and is ideal for micropayments.
According to billionaire owner Ricardo Salinas Piglo, a major Mexican financial and retail company, Grupo Elektra, will soon start accepting Bitcoin payments. The adoption of the leading Bitcoin cryptocurrency (BTC) for payments has increased significantly over the years, especially through the concept of Bitcoin Lightning.
The retailer will soon become one of the largest companies in Latin America, supporting the second-tier bitcoin payment protocol.
Grupo Elektra supports BTC payments
Mexican billionaire recently Tweeted Bitcoin Lightning network is implemented in Grupo Elektra stores. The Bitcoin payment network allows customers to easily pay for items in the store with BTC without having to worry about trading or expensive transaction costs, which is commonly experienced in the Bitcoin main network.
Prior to the announcement of Grupo Elektra, the billionaire had revealed that his bank, Banco Azteca, was the first bank to support bitcoin in Mexico. This is not entirely surprising given that Ricardo Salinas Pligo was a major believer in cryptocurrency. He once announced his intention to allocate ten percent of his portfolio in Bitcoin.
Acceptance of Bitcoin Lightning increased
The Lightning Network is essentially a Layer 2 solution developed in the Bitcoin network to conduct fast and cheap transactions with Bitcoin using two-way payment channels that are not resolved in a chain in real time. Give. The network has been widely welcomed in recent months as a solution to scalability with BTC.
It is ideal for micropayments in BTC and, therefore, reduces the barrier to accepting mainstream bitcoin for payment. OKEx is one of the few cryptocurrency trading platforms that supports the Layer 2 network. The Malta-based exchange said in April that the network could reduce the average cost of bitcoin transactions to “less than 0.01 cents” in an average of “1-3 seconds”.