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The Lightning Network is a layer 2 payment protocol built on top of Bitcoin that enables faster and cheaper transactions between participating nodes through the use of off-chain transactions. “High fees, slow settlement, and lack of innovation in cross-border payments have negatively impacted the developing world,” said Jack Mallers, Founder and CEO of Strike. “With exorbitant fees to transfer funds in and out of Africa and incumbent providers halting services, payments companies are struggling to operate in Africa and people cannot send money home to their family members. Strike offers an opportunity for people to transfer their US dollars easily and instantly across borders.
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