Micropower in Fintech: micropayments discovered

To make the system more efficient, and lower processing fees, companies started to use micropayment channels technology. It was proposed as an alternative to the bitcoin protocol’s capacity. Lightning Network mechanism, which made transactions almost instant and reduced costs, relied on the creation of the second layer on top of the cryptocurrency, while keeping the peer-to-peer character of the transactions. Payment channel is basically the agreement between sender and receiver of a micropayment.