Overview
- GoMining announced GoBTC, a Bitcoin-native payments protocol it plans to debut at the Consensus conference.
- The protocol gives merchants instant authorization, with final settlement on the Bitcoin mainnet within hours.
- It batches approved payments off-chain and includes them in blocks that GoMining mines, letting the operator control fees.
- Merchants would pay a 0.2% processing fee, with half going to the user’s wallet provider and half to the miner that closes the block.
- Executives and reporters flagged early hurdles that include KYC limits in markets like Europe and merchants’ likely preference for fiat settlement at launch.