In this video, you will see Kevin Loaec interviewing Josh and Zach Harvey, co-founders of Lamassu. They are pioneers in Bitcoin ATMs, and they are hiring!
In the beginning, Josh and Zach talked about their interesting decision to manufacture their machines in Portugal. As they were looking for an industrial designer, firstly they found out that China is good for large production, but not so great when you are getting started with just a prototype machine made out of wood and assembled in their backyard. So, they continued to search, and by coincidence, they stumbled upon Claudio in Portugal, who managed to understand their needs immediately and they are working together ever since.
In this post we have a brief overview of what Lightning Network is and how it can and is integrated with existing cryptocurrency ATM’s. We check what are potential advantages and disadvantages of using LN payments for both users and operators.
Lightning Network Overview
There is a lot of information on what Lightning Network is. In short, it is a second layer protocol on top of cryptocurrenices like Bitcoin, Litecoin etc. Effectively, two users have a mutual (multi-signature) transaction on the base layer and then exchange signed new transactions, which are not broadcast to the base layer network and hence are not included into blockchain. Only last transaction in a sequence of exchanged signed transactions (commitment transaction) is broadcast to the blockchain, when one party decides to close the financial relationships with counterparty. Such funding transaction and exchange of signed transaction is called a payment channel.
In November the price of Bitcoin decreased. The month started with a price of $9,147 and continued to fall approaching the end of the month when it experienced a brief rise. November ended with the price of $7,657 which is a 16.3% decrease compared to the beginning of the month.
The number of new machines continued to grow at a relatively stable rate, unlike the change in price of Bitcoin.
Period Start: 5814, Period End: 6061 Opened: 345, Closed: 98, Net Growth: +247 (4.2%)