The largest e-commerce sites still do not take a virtual currency. Therefore, developers have created a special extension that allows you to pay for online purchases of cryptocurrency. In the article, we considered the features of the project work and its influence on the development of crypto industry.
The American startup Moon has released the browser expansion of the same name that functions on the Lightning network channels. It is important that although the product helps to pay for goods by Bitcoin, Ether, Lightcoin and Bitcoin Cash, the sellers and playgrounds themselves are not in contact with coins. The extension independently converts virtual assets to Fiat, and then transfers tools in the traditional form to the site.
This ensures the integration of solutions with almost any electronic commerce platform, regardless of whether it supports cryptocurrency. So far, you can make purchases on Amazon in this way, but it’s already working on adding:
By 2020, the Lightning Network support feature should work on all major sites.
Traditional financial institutions help to convert funds. The project also integrates with Visa and MasterCard networks to reduce the fee for exchange operations when transferring credit cards. Moon does not store users, but only performs their transit. The service does not charge additional fees for operations.
Moon is a compact extension for Google Chrome, Opera and Brave. The service manages the payment channels and offers a simple interface to send payments. To get started, you need to find it in a compatible web browser store, install and create an account.
In the process of placing the order in the online store, Moon will independently offer to pay the product cryptocurrency. A window will appear with the amount of payment, available for digital assets and payment method. Since the service serves as an intermediary, then the address is required to specify the address of its cryptococheries with support for Lightning Network.
After filling the desired fields, the continuation button will be active. The extension will display a QR code for scanning and duplicates it as an Lightning account that can be copied. After confirming the payment, work with the extension is complete. The service automatically converts and transfers the tools to the seller.
A team of three people with a budget of $ 100 thousand created a product that is able to bring crypto industria to a new level. The solution will allow any cryptocurrency holder to buy goods on the most popular sites without restrictions.
This will partially solve the problem of global use of coins and their popularization, stimulates the development of the Lightning Network — second-level protocol for scaling instant payments on the network. As the list of supported online stores and virtual assets is expanded, people will feel the advantages of applying cryptocurrency, and merchants will notice the demand of the young class of assets.
A further increase in popularity can potentially lead to global use, recognition of the legality of digital coins and stabilize their courses.
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