On November 5, 2019, Bitcoin Lightning Network, RADAR ION has launched an amazing cryptocurrency payment tool, i.e., REDSHIFT. This tool helps the users in sending and accepting the Lightning payments with the help of Bitcoin or Ether. REDSHIFT allows trustless transactions in tokens and blockchains. This tool is useful for businesses and developers that are using the lightning network for making transactions.
Earlier, it was difficult to pay the Lightning invoice as one has to go through a long process. A user needs to deposit an exchange for trading, create a lightning wallet, wait for the amount withdrawn to his wallet, and after that, open the channel to make the transaction. REDSHIFT simplifies this complicated process. Now, it is easy to pay the Lightning invoice and accept the payments. Now, the node operators can easily manage the capital, and on the other hand, developers can combine the cross-network payment capabilities in their applications. There is no need for channels, accounts, and withdrawals using the REDSHIFT. A user can pay the invoice by using tokens from their blockchains from their existing wallet.
REDSHIFT provides swapping of different networks like Bitcoin and Lightning by a smart contract, i.e., Hash-TimeLocked Contracts (HTLCs). This contract decides the success and the failure of the payment. It is to ensure that on-chain payment is made only on successful transactions.
REDSHIFT helps in improving the payment routing of existing Lightning users without any new channel. In some time, businesses will be able to accept the Lightning payments that can be cash out easily by paying the Lightning invoice.
There is an excellent opportunity for developers and businesses to develop capabilities of Lightning in their products and services without maintaining its infrastructure. REDSHIFT accepts payments in many cryptocurrencies. There is no need to have altcoin and treasury management tools to connect with customers.
It is easy to integrate the cryptocurrency payment tool, i.e., REDSHIFT, into anyone’s application or website. Non-developers can write code on the website to incorporate the customizable REDSHIFT widget. On the other hand, developers can embed the REDSHIFT tool via API and SDK to develop robust integrations.
Lightning will be adding many other things in REDSHIFT like blockchains, assets, integrations, and capabilities to make the tool accessible to all types of consumers, developers, and all businesses. The company is aiming to develop significant software using the blockchain that can benefit users across the world.