<\/p>\n
Creator:<\/strong> Graham Krizek<\/p>\n Establishment Date:<\/strong> October 2020<\/p>\n Headquarters Location:<\/strong> Wichita, Kansas<\/p>\n Employee Count: <\/strong>17<\/p>\n Official Website:<\/strong> https:\/\/www.voltage.cloud\/<\/a><\/p>\n Public or Private Entity?<\/strong> Private<\/p>\n In 2012, shortly after Graham Krizek came across Bitcoin and subsequently started contributing to Bitcoin Core while developing his own applications on Bitcoin, he identified a challenge that was obstructing Bitcoin developers.<\/p>\n \u201cThe challenge I observed was that everyone was repeatedly building everything from the ground up,\u201d Krizek revealed to Bitcoin Magazine. \u201cThere was no cloud platform where you could easily set up Bitcoin infrastructure and start programming against it.\u201d<\/p>\n At that moment, Krizek didn\u2019t feel rushed to address this challenge, however. He remained primarily concentrated on his profession as a software engineer outside the Bitcoin realm, working for various startups as well as large firms like Salesforce, while contributing to Bitcoin during his leisure time.<\/p>\n But something changed within him when he got to know the Lightning Network.<\/p>\n He recognized its potential and understood that it needed to be simplified for widespread usage.<\/p>\n \u201cWhen I discovered Lightning, I thought to myself \u2018Alright, this is the next stage of Bitcoin adoption, the element that\u2019s really going to elevate it,\u2019\u201d Krizek stated.<\/p>\n \u201cThen, I noticed the same trend occurring as with Bitcoin. Everybody continued to build from scratch while developing, but the complications were more pronounced since Lightning is considerably more intricate,\u201d he continued.<\/p>\n \u201cI was thinking, \u2018We require a cloud service that allows you to simply press a button and have a Lightning node operating and managed for you.\u2019 It can just exist so we can create applications and develop the projects we aspire to build with greater ease and speed.\u201d<\/p>\n Thus, Krizek set out to create such a solution.<\/p>\n He shared the initial version with friends and contacts, many of whom utilized it to such an extent that the project warranted more of his focus.<\/p>\n \u201cThe utilization increased to a level where I felt, \u2018Wow, I either need to cease this because I can\u2019t sustain it any longer, or I must turn this into a legitimate business,\u2019\u201d Krizek recounted.<\/p>\n He chose the latter option, and by late 2020, he had established Voltage<\/a>.<\/p>\n Voltage simplifies the intricacies of utilizing Lightning by enabling users to deploy a Lightning node and establish a channel in just a few clicks.<\/p>\n While Voltage manages your node in its cloud, its public key, peers, channels, balance, and transactions all remain confidential, as all traffic routed through the node is communicated via Tor.<\/p>\n While your node is functional in the Voltage cloud, which is backed by Google Cloud and various other cloud service providers, Voltage also assists users in managing liquidity and provides other forms of client support.<\/p>\n Essentially, Voltage alleviates the challenges of engaging with Lightning, while concurrently supporting its users. This is done in efforts to facilitate institutions in more readily adopting Lightning. Krizek also noted they have new offerings and capabilities to assist even traditional finance firms with integration.<\/p>\n \u201cThe goal of Voltage is to make Bitcoin and the Lightning Network accessible to every business globally,\u201d Krizek explained.<\/p>\n \u201cLightning is remarkable. It possesses numerous fantastic functionalities, but it can be quite challenging to grasp and especially to integrate for business operations \u2014 particularly for companies that might not be in the Bitcoin or crypto sphere,\u201d he added.<\/p>\n \u201cWe simplify usage and integration.\u201d<\/p>\n In the past year, prominent firms such as major crypto exchange Coinbase<\/a> and Latin America’s largest fintech bank Nubank<\/a> have integrated Lightning into their operations.<\/p>\n Krizek anticipates that the trend of crypto exchanges, neobanks, and other financial service platforms adopting Lightning will persist in the upcoming year.<\/p>\n \u201cFinancial institutions are definitely going to be the primary innovators because if you can leverage the value of sub-second settlement with no fees and apply that to a major payment processor that handles global transactions, it\u2019s an extraordinary value addition for their business,\u201d remarked Krizek.<\/p>\n Furthermore, Krizek envisions companies outside of the Bitcoin, crypto, and financial sectors also beginning to utilize Lightning by 2025, partly due to companies like Voltage facilitating the process.<\/p>\n \u201c2025 will be a significant year for branching out from our niche market,\u201d stated Krizek.<\/p>\n \u201cThe technology has still been somewhat rough around the edges for a large corporation like Walmart to say, \u2018Hey, we\u2019re going to integrate this now.\u2019 Even with Voltage, we haven\u2019t been flawless all the time in making Lightning super user-friendly,\u201d he added.<\/p>\n \u201cI believe we have made significant progress in the last year, though, and we have much more coming.\u201d<\/p>\n Another significant obstacle for companies wanting to adopt Lightning is the risk associated with managing bitcoin\u2019s volatility.<\/p>\n However, that risk disappears if companies transmit Tether (USDT) over Lightning instead of bitcoin, which they will be able to do soon<\/a>.<\/p>\n Krizek is optimistic about USDT joining Lightning, as he believes it will stimulate growth within the network.<\/p>\n \u201cI anticipate that we will see a plethora of products and solutions surrounding it,\u201d Krizek stated.<\/p>\n \u201cIt\u2019s not merely me being personally enthusiastic about it. A significant portion of our clientele is very eager about it. They\u2019re specifically requesting it from us because stablecoins are essentially the biggest use case in crypto today,\u201d he added.<\/p>\n \u201cWhen you pair stablecoins with sub-second settlement times and extremely low fees, that\u2019s a massive unlock. With fees on Tron rising, people are seeking an alternative.\u201d<\/p>\n (Tron has previously been the foremost blockchain for stablecoin transfers<\/a> due to historically low network fees.)<\/p>\n As for USDT operating over Lightning creating a potential security risk to Bitcoin (as I believe it does<\/a>), Krizek appears unconcerned.<\/p>\n \u201cIt doesn\u2019t trouble me whatsoever,\u201d stated Krizek.<\/p>\n \u201cI believe that we\u2019ve progressed since the Blocksize War<\/a> in terms of takeovers, as I don\u2019t think it\u2019s as simple for a major institution to manipulate the Bitcoin ecosystem like some did during the Blocksize Wars,\u201d he added, referring to Tether potentially acquiring undue influence over Bitcoin.<\/p>\n \u201cMoreover, integrating something like Tether (USDT) on Lightning is even better because it operates on a peer-to-peer network \u2014 it\u2019s not reliant on public consensus. Thus, you have considerably more control to say \u2018Hey, if you don\u2019t wish to engage in the USDT transactions, simply don\u2019t participate.\u2019\u201d<\/p>\n U.S. Cryptocurrency Czar David Sacks is an investor in Voltage (through his venture capital firm, Craft Ventures<\/a>). This suggests that he possesses some understanding of the Lightning Network and the role of bitcoin as a means of exchange.<\/p>\n So, does this imply that the U.S. is on the cusp of accepting bitcoin as such?<\/p>\n According to Krizek, not necessarily.<\/p>\nHow Voltage Operates<\/h2>\n
What Kinds Of Companies Are Utilizing Lightning?<\/h2>\n
Tether (USDT) On Lightning<\/h2>\n
Progressing In A Pro-Bitcoin Regulatory Climate<\/h2>\n