WATCH: Hacker zaps Coca-Cola vending machine to accept bitcoin
INTERNATIONAL – Brazillian computer programmer Ricardo Reis built a Coca-Cola vending machine that accepts bitcoin payments over the Lightning Network.
Reis described his feat in a Medium post on October 2, in which he also mentioned the accessories that were employed to create the bitcoin-enabled Coke portal, according to a report by cryptocurrency news site ccn.com.
In addition to applied programming techniques and vending machine hardware that could take instructions from the user-interface, Reis also used the Lightning Network to enable faster and cheaper bitcoin transactions.
Unlike a normal bitcoin transaction, which gets recorded and verified on a public blockchain, the Lightning Network adds a secondary layer to create a payment channel that does not require transactions to be confirmed by the main blockchain until the users close the channel.
Thus, users can make a series of the transactions without needing miners’ confirmation. Once they close the payment channel on the Lightning network, its cumulative output gets recorded and verified on the main bitcoin ledger.
Cryptocurrency developers Joseph Poon and Thaddeus Dryja had introduced Lightning Network as a solution to bitcoin’s slow on-chain transactions that were supposedly hampering its growth among merchants, ccn.com reported. Reis’ efforts simply illustrated the process with a real-world example as simple as a Coca-Cola vending machine.
BUSINESS REPORT ONLINE