According to Forbes, Bitcoin mining company GoMining announced on May 5 the launch of GoBTC, a payment protocol designed to leverage its mining pool’s block production capacity (approximately 2-4 blocks daily) to settle transactions directly on the Bitcoin mainchain. The system aims to reduce merchant fees to approximately 0.2%, significantly lower than Visa and Mastercard’s 1.5-3.5% rate range. CEO Mark Zalan stated the protocol operates independently from Lightning Network or Layer 2 solutions, with the mining pool determining fees during block production to achieve near-zero cost payments for users while distributing fees between wallet providers and miners.
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