GoMining Launches GoBTC Pay SDK to Bring Native Bitcoin Payments Into Everyday Commerce

GoMining is moving ahead with its launch of GoBTC Pay Gen1 SDK and API.

These new launches will allow merchants, wallet providers, and ecosystem partners to use Bitcoin for real-world products and services.

The Launches Mark the Next Phase of GoBTC Pay

With this launch, GoBTC, GoMining’s layer 1 Bitcoin payment protocol, is said to have moved ahead with its aim to turn BTC into something that could be utilized in the real world.

The Gen1 release’s purpose is to evolve GoBTC Pay into an infrastructure layer. With it, merchants, wallets, and ecosystem partners will be able to create their own Bitcoin payment experiences on top of the network.

The rollout won’t take an “all-at-once” approach. GoMining plans to board a group of 10 merchants and ecosystem partners first. These partners will first integrate GoBTC Pay into their products; scaling will come later.

GoMining Puts Bitcoin to Work Truly for the First Time

Talking about how the new launches of GoBTC Pay SDK and API push the “putting Bitcoin to work” agenda forward, Mark Zalan, CEO of GoMining, said that Satoshi’s plan for Bitcoin was not to make it sit idle in wallets, but to move value between people.

“With the launches, we’re giving merchants and wallet providers the infrastructure to bring that vision into real-world commerce.”

The CEO further stated that the new integration will be intuitive, and when more people adopt it, it will redefine how people view Bitcoin.

“It will become more than just an asset that people own,” he added.

Settling Directly on Bitcoin

GoBTC Pay’s approach to settlements is decentralized. It settles directly on Bitcoin, and does not compromise user ownership and custody while doing so.

With the Gen1 release, merchants will gain access to multiple features such as onboarding tools, capabilities to manage payment, a web-based dashboard, a system to integrate online payment, a document of the application’s development files, and an open API for wallet providers and institutional partners.

What is GoBTC Pay

GoMining’s private 15EH/s mempool built on the Stratum V2 protocol powers GoBTC Pay. The mempool is designed to prioritize GoBTC Pay transactions.

According to the developers, GoBTC Pay, with its expected 12-hour average settlement window, maintains the core principles of Bitcoin. At the same time, the app provides a fiat-like payment experience, which helps with reducing barriers traditional currency users feel when interacting with the crypto space.

The platform reportedly lets users have control of their BTC while settling directly on Bitcoin. For merchants, the app is said to offer a strong payment experience that does not involve customers having to convert their crypto into fiat first.

The platform charges a 0.2% transaction fee to merchants. This fee is then divided among participating wallet providers and miners in the GoMining pool that process settlements.

Developers say that this approach to directly rewarding the participants for helping with transactions aids the growth of the GoMining network.

The new launch has happened after GoMining introduced GoBTC Pay at Consensus Miami, and is said to be the first step towards a broader ecosystem strategy to encourage the masses to adopt Bitcoin payments.