Amboss is a firm dedicated to providing data, insights and coordination tools for the Bitcoin Lightning Network. Users can perform all Amboss operations via the firm’s API including Magma – Amboss’ liquidity marketplace. The firm’s online platform is an enterprise-grade data analytics tool with the main purpose of improving performance of the fully-reserved Bitcoin payments layer.
The Bitcoin Lightning Network has over 17 000 payment provider nodes and provides a decentralized alternative to to traditional payment networks. However, this nascent P2P(Peer to Peer) financial system is becoming more complex by each passing day as huge volumes of raw data are being generated each second. Amboss therefore, has moved into this space to combine data, analytics and a social component to enable users make strategic decisions on how to successfully and efficiently route payment transactions across the network that is ever getting bigger.
Amboss has recently announced that it had secured $4 million in a seed funding round that was backed by numerous venture capitals including Stillmark, Valor Equity Partners, Draper Associates, Fulgur Ventures and Ride Wave Ventures. The proceeds on the new financing round will be utilized to bolster the firm’s AI(Artificial Intelligence) research and product development. The firm aims to leverage AI and machine learning models to add intelligent decision-making tools to their product offerings that will in turn help in node and channel management automation.
According to Jesse Shrader, the co-founder and CEO of Amboss, the data analytics platform that the firm has built showcases the many advantages that the Bitcoin Lightning Network as a community-controlled financial system. Shrader also noted that the firm’s objective to optimize payments with machine learning has attracted interest from strategic investors who understand the network’s significance and potential role in perfecting global payments.
With Amboss’ solutions, payment reliability can be guaranteed. This reliability is of critical importance to enterprises who are considering getting onboarded into the Bitcoin Lightning Network in 2023. The firm’s advanced products will therefore, offer a simplified experience that closely fits existing client business parameters and therefore, positioning itself as a leader in driving innovation that fosters reliability in this sector. Currently, more than 30% of the Bitcoin Lightning Network nodes are registered under Amboss. In the evolving $9 trillion digital payments industry, Amboss is set to reap numerous benefits if it plays its cards right.
