The developers of cryptocurrency payment processing OpenNode announced the completion of a seed investment round, in which they attracted an unnamed amount from renowned venture capitalist Tim Draper and Draper Associates.
The project was founded in April 2018 by a group of developers of Bitcoin and Lightning Network protocol and aims to make it easier to use the first cryptocurrency.
The attracted funds team plans to focus on expanding the state, further work on the product and complete “hyper-bitcoinization”.
According to CoinDesk, Tim Draper invested $ 1.25 million in OpenNode.
As the project team says, the developed processing service may already be connected by merchants and companies wishing to accept Bitcoin as payment for their products and services. This can be done using a special plug-in or through an API.
As a payment for its services, OpenNode will take a commission of 1%; however, the service will be free for the first month of operation. The support of the Lightning Network protocol developed for instant and cheap bitcoin transactions is separately emphasized.