After being integrated with Blockstream’s Greenlight solution, users of the Bitcoin-only app Relai, based in Switzerland, will be able to use Lightning payment capability.Blockstream’s Lightning-as-a-service solution is being integrated into Relai’s wallet platform, which is exclusive to Bitcoin, according to a release shared with Cointelegraph that explains the specifics of the partnership.Greenlight is configured to enable 100,000 Relai users to send and receive inexpensive Bitcoin payments over the Lightning Network while keeping control of their private keys.By integrating Greenlight, Relai can avoid developing and maintaining custom Lightning infrastructure.
In June 2023, Blockstream introduced Greenlight as a substitute service that allows platforms and developers to offer quick, inexpensive Bitcoin payments.Utilizing Blockstream’s infrastructure while maintaining user control over private keys is essential to the service.Custodial solutions represent an alternate choice that provides expedited onboarding and convenience; however, these usually erode user security and privacy assurances.Security and privacy are given priority in noncustodial systems, although they come with higher operational and technological costs.
The method used by Greenlight to enable custodial Lightning divides nodes into smaller, independent parts.Greenlight enables all activities involving private keys to be carried out on a user’s device acting as the signer, using Core Lightning as the foundational implementation.The infrastructure of Blockstream powers the remaining nodes and requirements for operations.
In order to guarantee end-to-end verification, Blockstream developed its signer on the Validating Lightning Signer project.This implies that no one with comparable control or access, including the infrastructure operator, may start operations involving their cash; only users may do so. With a user-controlled client interface and signer and a wallet provider running a Bitcoin node that connects to the network, the design is akin to hardware wallets.Blockstream manages the node, but user-controlled components have the ability to start payments and sign invoices.
When Relai was established in 2020, its only goal was to trade and store Bitcoins.Over the previous four years, the app has produced trading volume of over $300 million.Relai’s move to integrate Lightning payments follows the lead of several of the largest exchanges aiming to enhance their Bitcoin payment capabilities.September 2023 will see the integration of Bitcoin Lightning payments into Coinbase’s offering, as stated by the largest exchange operator in the US.Citing Bitcoin’s status as the most valuable asset in the cryptocurrency ecosystem, Coinbase CEO Brian Armstrong claimed that the platform’s features will enable quicker and less expensive BTC transactions.