Chivo Wallet in El Salvador relies on River’s Lightning service, which eliminates the need for developers to build their own Lightning infrastructure.
According to a press release given to Bitcoin Magazine, River Financial, a fintech startup specialising in Bitcoin services, has launched River Lightning Services (RLS), a Lightning Network integration designed to assist companies and institutions exploit the network.
RLS has been operational in El Salvador for almost a year, functioning as the Chivo Wallet’s backend Lightning integration. Additionally, the firm said that other “well-known consumers” would be joining.
“RLS is the next stage in River’s quest to accelerate Bitcoin adoption,” stated River founder and CEO Alex Leishman. We are tremendously happy to serve the people of El Salvador, and we look forward to extending this wonderful technology to the rest of the globe.
RLS simplifies the Lightning integration process by eliminating the need for developers to manage Lightning infrastructure. Using an API, “RLS is doing for Bitcoin what Stripe accomplished for credit card processing,” according to a press release.
The river has been a part of the Lightning ecosystem for the last four years and presently operates some of the network’s major nodes. Thus, the corporation claimed that it is challenging to operate nodes with high uptime and a high payment success rate.
Therefore, RLS aims to simplify the Lightning Network so that developers may interact with the ecosystem without having to handle its technological obstacles.
In addition, River observed that “because to its fast-moving protocol, eventual multi-asset & stablecoin capabilities through Taro, and rapid and inexpensive transactions,” the Lightning Network is essential to accelerate Bitcoin’s adoption.
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