The Breez payment platform introduced a non-custodial wallet for iPhone that supports the Lightning Network protocol.
The basis of the new product is a lightweight client Neutrino. It is also known that the wallet supports Submarine Swaps technology, which makes it possible to conduct transactions between online addresses and the Lightning Network.
The company's blog says that immediately after installation, the application automatically connects the channel to the so-called Breez hub connected to other Lightning nodes, which allows the user to conduct transactions with any participants in the second-level network. In addition, according to the founder of the company, Ron Scheinfeld, the possibility of a refund is provided in the event of challenging purchases.
In a Lightning economy, people trade money for goods and services. Intermediaries — banks, credit cards, online payment processors, and custodians of any kind — are obsolete. All that remains are the people, trading with each other anywhere, anytime, free to do what each of them thinks is best with their own money. Scale is no longer a concern. Transactions are virtually instantaneous and practically free. The people are free too. Finally.
Co-Founder and CEO, Breez
The company also noted that within only two months after the release of the version for Android, Breez benefited from "hundreds of users." Currently, the wallet is in beta.
On the eve of the release of the iOS application, the startup managed to attract $ 500,000 from Recruit Strategic Partners and Fulgur Ventures. The funds will be used to develop an application for merchants, allowing them to accept Lightning-payments.