Bitcoin Powered Coffee Machine to be Created in Brazil

Creator says that bitcoin-coffee machine was created to study the potential of the market
18 June 2018   1944

The Brazilian businessman Ricardo Reis, wishing to demonstrate one more example of the potential use of the first cryptocurrency, created his own bitcoin-espresso machine. This is reported by CCN.

According to the businessman, he doesn't work directly with cryptocurrencies, but he has been investing in bitcoin since 2016. He also says that the bitcoin-coffee machine was created to study the potential of the market, and to show that the first cryptocurrency has various potential uses, including as real "programmable money."

I developed a device that powers the coffee machine with Bitcoin transactions to study and have fun. Dealing with technology, for me, besides work, is a hobby. My intention was not to create something to explore commercially, I wanted to simply explore the technology’s capability and show other people how BTC is ‘programmable money.
 

Ricardo Reis

BTC coffee machine creator

The machine starts when the bitcoins arrive at the purse connected to it. The device has a QR code that allows users to send money and pay for coffee.

As creator says, he used the Raspberry Pi processor and encoded the machine with PHP. At the moment, the coffee machine does not use the Lightning Network protocol, but in the future Reis plans to use this technology to create another device.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   312

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.