Nigerian innovator launches first active Bitcoin Lightning node in the country

The Lightning Network has actually struck the earth in among the most challenging operating environments. Lagos, the capital of Nigeria– Africa’s most populated country– welcomed a brand-new Bitcoin Lightning Network (LN) node today, an essential step to much better connect the continent to the layer-2 payments network that sits atop Bitcoin.The node runs

on an old laptop powered by a diesel generator, as Lagos regularly experiences energy and electrical power blackouts.

In a conversation with Pandoraland, Megasley, who operates the first Nigerian Lightning node of 2023 and the very first active Lightning node in the nation (other nodes are inactive), shared his vision for bringing immediate, low-priced payments to Africa thanks to the LN.

“Light takes 50 milliseconds to cross the earth. This fasts, however with lots of hops, these milliseconds can build up. And when you’re standing at a point of sale waiting for your payment to clear, it can be aggravating.”

Megasley explained his want Africans to have payments that are instant and as near complimentary as possible. “If a Nigerian Bitcoiner and a Nigerian merchant are both linked to a node in Nigeria, it will give them the very best Lightning experience,” Megasley added.Nigeria Free Routing is live!The lightning network is now alive and routing on the ground in Lagos.Please share and support us by opening a channel to
us: https://t.co/nClBZbW4zA pic.twitter.com/hGsKobyjzY!.?.!— Africa Free Routing ⚡ (@FreeRoutingAf) January 10,
2023 According to the explorer services Mempool and Amboss, the operator is presently the just active node on the map in Nigeria. By spinning up the node, the operator aims to make Lightning payments as accessible as possible to Africans. Cast your vote now!When asked about the value of developing out a comprehensive network of nodes across the globe to help with Bitcoin payments, the node runner discussed,” If Bitcoin is to be successful, it must end up being a much better, easier, quicker legal tender than the incumbents. To arrive, we require to construct out an extensive network of nodes around the world to facilitate these payments. “Megasley likewise touched on Bitcoin(

BTC) cost volatility and its understanding in Africa:” People discuss the problem of volatility, however this is nothing when you live in a location where your cash could easily lose half its worth in a year.”” Africa has rotten cash managed by rotten people, and this is why we require Bitcoin. We will take the power of money away from them so that the huge potential of the African people can flourish.”

Indeed, there has actually been a surge in Bitcoin adoption among the countries that utilize the Central African franc, bolstered by Bitcoin conferences and online forums in Senegal and Ghana. Although Nigeria has actually revealed promising indications of Bitcoin adoption, such as legal tender conversation, the legacy monetary system has actually imposed even more constraints in

2023. For instance, Nigerians will only be allowed to withdraw $44 dollars per week per individual and an optimum of $11,000 for businesses in 2023, based on the government’s efforts to phase out cash. As a pointer, Bitcoin has no limits or restrictions for its usage. To transact freely on the Bitcoin network, users need just a phone and an internet connection. Related: Bitcoin, Sango Coin and the Central African Republic The facility of a Bitcoin Lightning node in Nigeria is a substantial step toward increasing ease of access and adoption of the cryptocurrency in the nation and the continent as a whole. Ultimately, Megasley hopes to empower people and organizations in Africa to take control of their financial future.