You could soon pay for your McDonald's Big Mac with Bitcoin
Published on Apr 18, 2022 at 2:14 AM (UTC-4)
by Alessandro Renesis
Last updated on Apr 18, 2022 at 2:23 AM (UTC-4)
Edited by
Alessandro Renesis
McDonald’s, Starbucks and Walmart will soon begin accepting Bitcoin as a form of payment via the Lightning Network.
While Apple Pay has long been a payment option at some of these franchises, paying by Bitcoin will be a new addition.
This will be possible because Shopify, NCR and Blackhawk – e-commerce platforms that these brands work with – have signed a deal with Strike wallet, a crypto payment app that serves as a bridge between customers and retailers.
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The million-dollar question: what is the Lightning Network?
Ordinarily, Bitcoin relies on its own blockchain to process transactions and the main issue is the average BTC transaction takes about 10 minutes to complete, which is obviously way too slow if you wanna use it instead of a credit/debit card.
However, the Lightning Network overrides the need for on-chain confirmations by using smart contracts, which are basically blockchain-guaranteed automated contracts that run when predetermined conditions are met.
It can also support up to a billion transactions per second, with extremely low fees (fractions of a cent) and transaction times measured in milliseconds or, worst-case scenario, seconds.
“If we can help make the Bitcoin network more accessible and usable we believe we can change the world,” Strike CEO Jack Mallers said, according to CoinDesk.
Alessandro is an automotive journalist with 10 years of experience covering supercars, automotive history, emerging vehicle technology, and luxury transportation. He wrote the first article published on SupercarBlondie.com when the website launched in 2022 and has since built a reputation for insightful reporting across the automotive and transportation industries. His expertise is grounded in hands-on experience. Alessandro has driven every Tesla model ever produced, from the original Roadster to the Cybertruck, and regularly covers the latest developments in electric vehicles and automotive innovation. His passion for transportation extends beyond cars, he has even flown a Boeing 787 Dreamliner simulator in Addis Ababa, Ethiopia. His reporting spans everything from classic American muscle cars and rare automotive discoveries to luxury yachts, private aircraft, high-end watches, and cutting-edge vehicle technology. Known for his deep knowledge of automotive history and ability to uncover the stories behind iconic vehicles, Alessandro brings readers a blend of historical context, technical expertise, and first-hand experience.
