Bitcoin Developer: Merchants Accepting Crypto Can Process Their Own Payments for Less Than $6 per Month

  • Merchants accepting cryptocurrency payments can reportedly process their own payments for less than $6 a month.
  • This according to bitcoin developer Nicolas Dorier, who published a guide on the topic.

Bitcoin developer Nicolas Dorier has recently published a guide revealed that merchants accepting bitcoin can process their own payments through a bitcoin full node via a BTCPay Server, a move that can cost less than $6 a month.

According to the guide, merchants can currently host a BTCPay Server in a process that takes one click through Microsoft Azure. The simplicity, however, will cost them $65 per month. While the cost can be brought down to $20, it could still be high enough to deter businesses from accepting crypto.

Moreover, Azure doesn’t accept bitcoin payments. Per Dorier, some of his friends have had to deal with complications on their Azure accounts because of issues related to their credit cards. Paying with BTC, he implied, would make everything easier.

Per Dorier, helping merchants host their own full node and helping them stop relying on centralized processors, like BitPay and Coinbase, may be important. He stated:

If tomorrow the US government bans Bitcoin, or that using Bitcoin becomes suddenly “offensive or unpatriotic” (which will happen when shit hit the fan with USD), and merchants are using Microsoft Azure, then lot’s of shops will end up closed. This would hurt the ecosystem.

Dorier’s $6 a month solution would see merchants start using an alternative Virtual Private Server (VPS) hosting service. After digging a little into it, he found time4vps, a Lithuania-based service, accept BTC and only costs users $6.87 a month. If they pay for a two-year plan up front, it costs $5.14 a month.

To process their own payments, BTCPay recommends merchants should have a minimum of 2 GB of RAM and 80 GB of storage, while noting it can take a couple of days for the BTC network to synchronize. Using this method, merchants will also be able to accept Lightning Network payments.

BTCPay has notably been around for a year, but has only managed to rise to prominence after travel booking website CheapAir revealed it was using it to accept cryptocurrency payments, after San Francisco-based Coinbase revealed it was shutting down the Merchant Tools solution it used.

CheapAir’s CEO Jeff Klee, in an interview with CryptoGlobe, revealed accepting bitcoin payments was one of the “best decisions” he’s ever made. Per his words, bitcoin has been growing as a part of the company’s business.

Featured image from Shutterstock.

Tron's 'Four Major Developments' Including zk-SNARKs to Launch By Q2 2019

The developers of Tron (TRX), one of the largest platforms for building and deploying decentralized applications (dApps), are reportedly planning to release a set of upgrades and new tools to enhance the blockchain network’s functionality.

As noted by Misha Lederman, the co-founder of IAmDecentralized.org, a platform that is being created to support the ongoing development of decentralized technologies, the Tron blockchain ecosystem is set to deliver the following “major development”:

  • “BitTorrent Speed, $BTT,”
  • “Institutional-friendly multi-signature & account management,”
  • “USDT-TRON stablecoin launch on #TRX blockchain,”
  • “Implementing privacy option for transactions.”

Lederman, who’s known for being one of the most vocal supporters of Tron (especially on Twitter), revealed that Tron’s major developments (listed above) will be launched in the “coming weeks and months” of Q2 2019.

"BitTorrent Speed" And Multi-Sig Wallets Launched

After acquiring BitTorrent last year for $140 million, Tron’s userbase may have increased significantly as the peer-to-peer (P2P) file sharing solution reportedly has more than 100 million users. In order to improve the existing functionality of BitTorrent and its native BTT token, Tron’s developers are launching “BitTorrent Speed,” an application that will compensate network participants in BTT in exchange for providing bandwidth and seeding.

On February 24th, Tron founder Justin Sun had announced (via Twitter) that the following set of updates would be integrated on the dApp development platform (Tron’s version 3.5):

  • “hard fork upgrade” (already activated on February 28th),
  • “Multi-signature [wallets] and [new] account management features for institutional investors,"
  • “Dynamic energy adjustment to real-time network performance,”
  • “50% up performance & res usage,”
  • ”Better [virtual machine] VM safety, events server for dApps.”

As explained by Sun in a video he posted from his official Twitter account (on March 7th, 2019), Tron’s partnership with Tether Ltd., the developer of the world’s first and largest stablecoin (USDT) involves the development of a Tron-based USDT token that offers “TRX holders a new way of value storage, provides dApp users a new way to play [or access] dApps, and increases legitimacy with institutional investors.”

Adding zk-SNARKS To Tron's Ecosystem

Moreover, the partnership between Tether Ltd and the Tron Foundation will involve the creation of a new TRC-20 compliant USDT stablecoin that will provide interoperability with applications and protocols across Tron’s ecosystem.

Notably, Tron’s development team is planning to integrate zCash’s zk-SNARKS privacy technology - which is intended to provide Tron’s users the option to conduct private transactions.

During the “Bad Crypto” podcast, Sun revealed why he is planning to incorporate the zk-SNARKS on the Tron network. He remarked:

People don’t want their privacy stored by Facebook or Google because those people can more easily manipulate the data so they can push ads to you. You don’t want to share those data with them. That’s why I think the decentralized way becomes a good way to do that and limit how much data you are required to share.