Cryptocurrency

You’ll be able to build an atm of Lightning Network with this software | Breaking News

Key facts:

With only USD 0,2 can be purchased satoshis by means of these ATM.The prototype will be enabled in the café The Block, located in the capital of Portugal.Build your own atm of Bitcoin connected to the Lightning Network is now possible, thanks to the research of an enthusiast of the ecosystem. The Twitter user 21isenough issued on September 8, the code of the software LightningATM, atm that allows you to change cents satoshis.In addition to the code to operate your system, 21isenough also posted pictures on how to install the circuits to make a prototype home of a ATM that you use the software that is designed to do. In this way, interested parties can develop their own device to sell bitcoins to customers at local businesses. The creator stresses that the machine allows you to distribute small amounts of bitcoin, accepting purchases of up to USD 0,2.Customers only need coins physical and a smart phone with its direction of Bitcoin. According to the video posted by the developer, users must enter in coins the amount they wish to trade. By means of a screen, the cashier informs the next steps to follow. Such as to validate the amount requested from the exchange or scan the QR code of the wallet. At the end of the exchange, the atm sends the satoshis purchased to the address scanned, thus ending the purchase.

21isenough noted that to perform the tests the client used Lightning Network NLD and the payment processor BTCPayServer. Among other details, the café The Block —located in the city of Lisbon in Portugal— noted that the atm would be working in their establishment, in view of that the developer is part of your team.

What new things it brings and what are its risks?

As detailed in the document LightningATM, in GitHub, the atm has a function of scanning QR code. Also, it notifies the validation of the amount requested and rejected exchanges of money too large for LN. However, the cashier may not store data, nor request another scan when the same has failed in a first attempt.One of the most novel characteristics of this project is its open source code. 21isenough published all the details of the machine, allowing third-party audited and reproduce in their homes. In this way, the creator points out that the objective of the cashier is to educate family and friends about the functioning of the Lightning Network, the network of micro-payments of Bitcoin.Twitter users reacted to the release of LightningATM celebrating its publication or by referring to doubts about the operation. Among the comments more prominent, highlighted a possible risk of double-spending in the network of Bitcoin using these machines. That is to say, allow a customer to overdraw money before the miners confirm the transaction in Bitcoin.

One of the readers pointed out that in atms of this type, managed on a decentralised basis by clients that do not expect two confirmations to release cryptocurrencies, the user can deposit a few cents to buy bitcoin and then steal the cash inside the machine. 21isenough confirmed that the cashier is still vulnerable to this type of attacks, but it is a mistake that they plan to address in the future.Even though this was novel, this new atm, the ecosystem of Lightning already has several projects ATM. For example, the developer Felix Weiss presented the last days of march project atm of bitcoin connected to the Lightning Network. Similarly, the startup Coinfinity was the first commercial transaction in the network Lightning from an atm Bitcoin.