Crypto News
Amboss Launches Innovative New Tool to Boost Adoption of Bitcoin’s Lightning Network
![](https://meshnews.org/wp-content/uploads/2023/09/bitcoin-hyperbitcoin-y7L9qP.jpeg)
Amboss, a leading data analytics provider for the Bitcoin Lightning Network (LN), has unveiled a new subscription service called Hydro, designed to automate liquidity management for the LN, according to a press release sent to Bitcoin Magazine. This enables businesses to seamlessly receive payments through the Lightning Network without requiring expertise in LN operations or relinquishing custody of their funds.
Hydro attempts to simplify the Lightning Network’s payment liquidity process by automating the sourcing of payment liquidity from decentralized sources directly to a business’s LN node. As more businesses embrace the Lightning Network, the growing circular economy leads to increasingly cost-effective Lightning payments, with fees dropping from an initial 3.5% setup cost to as low as 0.003% for subsequent payments, according to the release.
Jesse Shrader, Co-Founder and CEO of Amboss, emphasized Hydro’s transformative potential, stating, “Hydro is a game changer for businesses to get the benefits of the lightning network without trusted custodians, intermediaries, or the headache of channel management. As the lightning network welcomes global participation, Hydro simplifies real-time payment infrastructure to bootstrap global circular economies like we’ve seen in Costa Rica’s ‘Bitcoin Jungle’.”
Until now, sourcing liquidity for businesses on the LN has been a challenging endeavor, as entrepreneurs typically lack the time and expertise needed to manage a LN node. Consequently, the adoption of Lightning has been slow for retailers using full nodes, often forcing them to turn to trusted custodians, thereby sacrificing some of the privacy and sovereignty advantages offered by Bitcoin. With Hydro, businesses can finally tap into the full benefits of LN adoption without the associated hassles.
Amboss also operates Magma, a marketplace for buying and selling Lightning channels, which Hydro leverages to obtain high-quality liquidity from an open market. Lightning channels create new pathways for routing payments within the Lightning Network. Selling these channels on Magma allows Bitcoin savers to earn BTC by opening Lightning channels to various destinations, such as online stores, wallets, or other LN users. Since Lightning channels enable self-custodial Bitcoin holding, Magma provides novel Bitcoin yield opportunities without custodial risks, sidestepping the pitfalls experienced by some centralized finance (CeFi) yield platforms.
Hydro’s functionality involves purchasing select Lightning channel leases that meet specific quality criteria at the lowest available prices. Users can define their desired node size (capacity), and channels will be automatically procured using prepaid Amboss credits, known as “ambucks.” Users even have the option to set a target inbound liquidity, facilitating cost-effective and needs-based channel management.
Amboss’s Hydro aims to reshape the landscape of the Bitcoin Lightning Network, making it more accessible and user-friendly for businesses, ultimately driving wider adoption and fostering the growth of a robust, decentralized payment ecosystem. To learn more about Amboss or subscribe to its comprehensive Lightning Network insights, services, and more, visit their website at here.
This subscription service sources lightning network liquidity for businesses to alleviate the maintenance expertise that lightning channel management demands.
Crypto News
BRICS Poised to Dominate World Bank and IMF, Says Russian Executive Director
![](https://meshnews.org/wp-content/uploads/2024/07/shift-control-LxdJGn.jpeg)
The World Bank executive director for Russia forecasts that BRICS nations will soon dominate the World Bank and the IMF.
Crypto News
BRICS Considers Iran’s Proposal to Link Payment Systems of All Member Countries, Says Russian Official
![](https://meshnews.org/wp-content/uploads/2024/07/brics-payment-systems-2YyS4D.jpeg)
BRICS member states are considering Iran’s proposal to link all their payment systems, according to a top Russian official.
Crypto News
Bitcoin Investors Won’t Sell BTC Even if Price Drops to $3K, Peter Schiff’s Poll Shows
![](https://meshnews.org/wp-content/uploads/2024/07/peter-schiff-bitcoin-polls-TGvaJ6.jpeg)
Gold advocate Peter Schiff has conducted two polls regarding bitcoin’s value and investors’ actions if BTC price falls significantly.
-
Awakening Video11 months ago
This is What Happens When You Try to Report Dirty Cops
-
Substacks4 months ago
THE IRON-CLAD PIÑATA Seymour Hersh
-
Substacks10 months ago
The Russell Brand Rorschach Test Kathleen Stock
-
Substacks10 months ago
A real fact-check of Trump’s appearance on Meet the Press Judd Legum
-
Substacks9 months ago
Letter to the Children of Gaza – Read by Eunice Wong Chris Hedges