Apple Watch-owners can now receive Bitcoin's experimental lightning payments thanks to a QR code on their smartwatch. BlueWallet launched their app for iOS and it incorporates an Apple Watch-functionality. With a few taps on their watch, people can generate a QR code to receive bitcoin payments using the super fast lightning network.
Bluewallet suggests the app is mainly for an easy and fast method to receive bitcoin. Add a description, say how much you want to receive, and the app creates a QR code. This works on your phone and on your watch.
“Sometimes the convenience of just [receiving bitcoin] with two taps from your wrist can be a relevant user experience, specially on the go or if you need to be fast", said UX engineer Nuno Coulho to Coindesk. The smartwatch app is just a first phase. If people like the functionality, BlueWallet will spend more time on updates and extra features.
Just like the Bitcoin's lightning network, the smartwatch is still experimental. The lightning network is an extra layer on top of the bitcoin blockchain that allows user to transfer bitcoin against very low transaction costs. In recent months the lightning network has been used in many ways to showcase its usability and low costs.
In December a piece of art was sold for the lowest possible amount. On the bitcoin network the lowest possible amount is 1 satoshi, but thanks to the lightning network 1 satoshi can be divided by one thousand. The piece of art was sold for $0.000000037. The lightning network also brings other interesting ways to transfer money into play. In March a Canadian entrepreneur managed to send a bitcoin invoice using radio waves.
Posted from my blog: https://www.nederob.nl/2019/05/06/bitcoins-lightning-network-now-on-apple-watch/