Substack now accepts Bitcoin payments on the Lightning Network

The online publishing level is enabling its autarkic publishers to judge crypto payments from much than 500,000 paying subscribers

Publishing level Substack is present accepting payments successful Bitcoin, according to a press release yesterday. The level has achieved this by integrating a Bitcoin API from Bitcoin outgo processor OpenNode.

Product decorator astatine Substack, Nick Inzucchi, commented, “We're excited to beryllium moving with OpenNode to alteration autarkic publishers connected Substack to judge crypto payments. Having this enactment volition springiness writers much flexibility and freedom, and we look guardant to doing much successful crypto to conscionable writers' needs.”

Founded successful 2017, Substack provides a location for autarkic publishers and their readers, and has much than 500,000 paying subscribers. The task has antecedently received concern from well-known backers specified arsenic Andreessen Horowitz, Fifty Years and Y Combinator.

Co-founder and CTO of OpenNode, João Almeida, explained, “Our concern volition let contented creators crossed the Substack ecosystem to judge Bitcoin payments, and clasp net successful Bitcoin oregon person to preferred currency. Writers and podcasters person flocked to Substack to regain originative and fiscal freedom, and Bitcoin is simply a earthy fit.”

Since 2018, OpenNode has been providing businesses with payout solutions specified arsenic optimised APIs, outgo buttons, e-commerce plug-ins and hosted checkouts to alteration them to securely judge instant Bitcoin payments.

OpenNode’s Bitcoin API volition let Substack to judge Bitcoin payments some on-chain and done the Lightning Network.

Lightning accelerated payments

The Lightning Network is simply a decentralised Layer 2 protocol built connected apical of the Bitcoin web which uses astute declaration functionality to amended the blockchain’s scalability and little the outgo of transactions.

While Bitcoin tin lone grip 7 transactions per second, with an mean artifact confirmation clip of astir 10 minutes and a adaptable mean transaction interest that topped $60 earlier this year, the Lightning Network tin grip astatine slightest 1 cardinal transactions per second, tin process them astir instantly and for negligible fees.