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Dollars in the Lightning Network

NFT, crypto
Published 1 week ago
ID #1821
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Smart Node
Dollars in the Lightning Network
NFT, crypto,
Published 1 week ago

Description

The innovation, dubbed Stablesats, uses derivative contracts to create a synthetic dollar backed by Bitcoin and pegged to the USD.

Dollars at the click of a button on the Lightning Network could soon be a reality. An innovation from Galoy, the provider of basic open source banking platforms like the Bitcoin (BTC) Beach wallet, could provide a safe haven from BTC volatility.

When we receive sats through Lightning, we convert it into dollars so that even if the price of Bitcoin changes, the user is not affected by volatility.

Bitcoin faces unique challenges in emerging markets

Indeed, stablecoins like USD Coin - USDC and Tether - USDT already offer the functionality of synthetic or digital dollars.


Network Lightning

Lightning Dollars

Dollars Network

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    mary
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    X-NODE Location

    NFT, crypto
    Dollars Network Lightning