New Microsoft Excel’s Plugin Will Allow Bitcoin Payments

Maja Mazur
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Pierre Rochard, a Bitcoin Advisory runner, has announced a developed plan for Microsoft Excel’s new plugin. It will be based on the Lightning Network technology. The product should be ready by the end of the year.

 

Bitcoin payments through Microsoft Excel

As an opposition to the omnipresent hype about the 10th anniversary of Bitcoin, let’s for a change take a look at the future rather than the past. Pierre Rochard, a software engineer running Bitcoin Advisory, has recently announced that he has developed a plugin for Microsoft Excel. It is supposed to help users to make Bitcoin payments directly. The plugin will use the Lightning Network (LN) to make fast payments in Bitcoin. The development plan was published on Rochard’s Twitter.

 

 

Second layer of blockchain

Lightning Network is known as a “second layer” payment protocol that operates on top of blockchain. It allows fast transactions between participating nodes and helps with the scalability problem. It also features a peer-to-peer system for micropayments. Taking transactions away from the main blockchain, LN helps to reduce the congestion of Bitcoin and reduce the fees. Transactions made through the lightning network are instant. It also makes the cryptocurrencies a means for everyday payments.

Lightning Network can also be used to conduct chain transactions involving cryptocurrency exchanges. It enables to exchange one cryptocurrency for another without any intermediaries.

Not for everyone?

The Lightning Network is definitely not perfect. It may not be the best choice for “regular people”. The user experience is considered not very friendly. This technology is also known for having many bugs and errors. The transaction failure rate is also quite high. But does it mean that Rochard’s new plugin will depend on a faulty system? It’s not like that. LN has lots of potential and it is still being developed. It was designed to solve the Bitcoin scalability problem and it will, yet it needs a little bit more time. Rochard himself brings that up. He has clarified that his program is still in the early stages of development.

Rochard has also reminded that his plugin is not for every computer user. It’s designed for people who know Excel very well and work with it daily. While this new invention might not be suitable for regular people, it will certainly come into use in big concerns and financial businesses.

The official release of the new Excel’s plugin will most probably be announced in the following months.

Image by slyellow

 

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