By Against common belief, bitcoin’s function is not just a store of value but also a medium of exchange. As bitcoin adoption continues to increase, more people are looking for places where they can spend their bitcoin. Merchants looking to meet this demand need a payment solution that’s easy to use, protects their customer’s privacy and doesn’t require advanced knowledge of bitcoin to get started.
In this article we will review Nodeless. A new bitcoin-only payment processing service promising to become the unified bitcoin platform for online stores, entrepreneurs and professionals.
Table of Contents
What Is Nodeless?
Nodeless is a platform that allows merchants to accept bitcoin and lightning payments without needing the technical knowledge to run their own lightning nodes.
It allows bitcoin payments to be integrated into websites, enabling merchants to seamlessly merge bitcoin with their existing platforms like WooCommerce and Prestashop.
Nodeless is a non-custodial service that mimics the functionality of a Lightning node by quickly routing incoming transactions to the withdrawal wallet, and all bitcoin wallets are supported.
Nodeless also offers a variety of personal solutions as well: the Nodeless address is a three-in-one, acting as a Lightning address, a NIP-05 Identifier, and a paywalled email address. They offer static donation pages and content paywall modules as well.
Every feature they offer is also available in the API.
Nodeless takes a flat fee of 100 sats, plus 1% of every transaction, and in return handles the Lightning routing fees, on-chain fees, and hosting fees that would otherwise be the responsibility of the customer.
How Does It Benefit Merchants?
Nodeless is designed to integrate smoothly with existing platforms, such as online stores or fundraiser pages.
Nodeless can facilitate bitcoin payments quicker and with lower fees than using the base-chain because it uses the Lightning Network. If fees spike to over 600 sat/vB, layer one payments can get pretty expensive, making the use of Lightning highly likely.
Since it doesn’t require KYC, merchants are also free from the burden of having to collect customer information, which would not only be a drain on resources but would also put them at potential risk of a data breach.
Nodeless combines the scalability and low cost of the Lightning Network with the security and trustlessness of the Bitcoin network.
Ease of use is a priority, and that may be the primary benefit of Nodeless.
How Easy Is It To Use?
Nodeless was born from a desire to bring bitcoin to those of us who don’t have the time or interest to learn the technical side of running a node ourselves.
True to that ethos, Nodeless makes a point of being user-friendly.
It’s easy to install and configure, and for even the least tech-savvy among us, it’s impossible to go wrong because Nodeless provides full support, including documentation and tutorials.
Stress-free implementation is key to the user experience, and no stone is left unturned in this regard.
For bitcoin adoption to really kick into gear, it has to be accessible to those who don’t have the expertise to be as fully involved as noderunners and shadowy supercoders.
Casual plebs and small business owners may contribute just as much with placing a “bitcoin preferred” sign on their online store or cash register.
Nodeless ensures that everyone can get on board, and it does so by making the entire process as smooth and effortless as possible.
How Important Are Privacy And Non-Custody?
Privacy and self-custody are massive components of the bitcoin ethos, and this is firmly upheld within Nodeless.
The platform does technically take custody of funds whilst they’re in transit between the payer and payee. However, because they are almost immediately passed on, Nodeless is considered non-custodial.
In fact, it’s impossible to use Nodeless as a wallet.
A withdrawal address must be given in order to even use the service so that it can pass on the payment as quickly as possible.
Nodeless has no desire to hold onto your funds.
Because of this fact, no KYC information is required, allowing you to use the service without providing any personal information.
In fact, it doesn’t even verify the email address you provide, meaning you could feasibly give a fake address and still use the platform.
Who is behind Nodeless?
The company is built by a man who goes by the name ‘UTXO’. He values his customers privacy just as much as his own hence is real name is not made public in this article. However, you can get an idea of the vision and values of Nodeless by watching some of the publicly available interviews with ‘UTXO’. Being a Bitcoin expert with deep technical knowledge he not only knows what he is talking about but also finds inspiring ways of explaining complex issues.
Conclusion
Overall, Nodeless is a fantastic, stress-free option for anyone looking to integrate bitcoin payments into their online stores or any other activity that could involve receiving transactions.
Without the need to spend hours researching how to run your own node, nor the need for the resources necessary to do so, Nodeless offers a smooth path forward for bitcoin adoption.
The service acts as a bridge between the non-custodial benefits of the bitcoin and the Lightning Network and the accessibility of third-party solutions.
There are few services out there that do such a great job of bringing bitcoin to the masses whilst maintaining the bitcoin ethos to such a strong standard, but Nodeless makes it look easy.
