Olympus is the name of the app given to the on-the-go Bitcoin wallet that is to release in 2020, giving Coinbase a run for their money.
BitPay, the payments processor for crypto in the US is also in the same boat as Coinbase. Zap solutions are aiming to rival the crypto market’s favorite coin trading company in the US, Coinbase and feel like they have what it takes to challenge the undisputed champion.
The founder of Zap Solutions, Jack Mallers is sure of his company’s product. He markets it as an easy way to get around the market for newbies. Their app is said to be faster and more user-friendly. According to Jack Mallers, the concept of making payment for Bitcoins using one’s own cash used directly from their bank account shouldn’t be much of a deal.
Olympus uses the Lightning Network
Zap solutions have worked out a way to make bank transactions for cryptocurrency an easy errand to run with their new app. The app runs on the Lightning Network and solely relies on this part of the Bitcoin blockchain to work up transactions regarding fiat and crypto.
Lightning Network is the scaling solution that provides faster and an abundant number of transactions than the main chain. Speaking of the main chain, the Know-Your-Customer (KYC) features plagues it with slower transactional rates. Though, the KYC is a reasonably important process to go through if you’re new to the ecosystem.
Since the Lightning Network is so streamlined, the app that Mallers’ team had been hard at work to run- not only on the mobile platform- is also a great hit. Here’s a video explaining how things are done in this new environment.
While Jack Mallers has a lot to say on what goes in making something that’s to compete with the crypto exchange giants.
The crypto investment company running the financial gears behind Jack Mallers’ marvelous work of art is CMT Digital, based in Chicago. 2020 will see the Olympus debuting on all major platforms like Linux, Windows, Android, and iOS- being integrated into the Zap wallets on these platforms.
The paperwork will also be dealt with and about Coinbase and Bitpay coming up with a similar fiat for a crypto solution, Jack Mallers wants to wait no longer.