March 27, 2024
Bitcoin News

Bitcoin-Only Relai App Integrates Lightning Payments with Blockstream’s Greenlight

Users of the Swiss-based Bitcoin-only app Relai are set to unlock Lightning payment functionality following its integration with Blockstream’s Greenlight solution.

According to an announcement shared with Cointelegraph, Blockstream’s Lightning-as-a-service solution is being seamlessly integrated into Relai’s Bitcoin-only wallet platform. This integration will empower over 100,000 Relai users to conduct low-cost Bitcoin payments using the Lightning Network while retaining control of their private keys.

Streamlining Infrastructure

Greenlight’s integration streamlines infrastructure for Relai, eliminating the need for the platform to build and maintain bespoke Lightning infrastructure. Blockstream introduced Greenlight in June 2023, providing an alternative service for developers and platforms to facilitate fast, low-fee Bitcoin payments while preserving user control over private keys.

Blockstream’s Greenlight architecture- Allows users to maintain sole control of their Bitcoin private keys. Source: Blockstream.

Balancing Security and Convenience

Custodial solutions often sacrifice security and privacy for user convenience, while non-custodial solutions demand more technical and operational resources. Greenlight bridges this gap by splitting nodes into smaller components that operate independently, ensuring that user-controlled elements initiate operations involving their funds.

Ensuring Security with Validating Lightning Signer

Blockstream’s signer, built on the Validating Lightning Signer project, prioritizes end-to-end verification. This design mirrors that of hardware wallets, where users have control over their client interface and signer, while the infrastructure provider operates a Bitcoin node connecting to the network.

Relai’s Growth Trajectory

Relai, founded in 2020 with a focus on Bitcoin trading and custody, has witnessed significant growth, generating over $300 million in trading volume in four years. The decision to integrate Lightning payments aligns with a broader trend of exchanges enhancing their Bitcoin payment functionality.

Industry Trends

Coinbase, the largest exchange operator in the United States, announced its plans to integrate Bitcoin Lightning payments in September 2023. Coinbase CEO Brian Armstrong emphasized Bitcoin’s importance within the cryptocurrency ecosystem and highlighted Lightning’s potential to facilitate faster and cheaper BTC transactions.

Coinbase CEO Brian Armstrong. Source: Flickr

Relai’s integration of Lightning payments signifies a strategic move towards enhancing user experience and fostering broader adoption of Bitcoin transactions in the cryptocurrency landscape.

Image from Wikimedia Commons

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