OpenNode
OpenNode Technical Briefing
Published September 28, 2021
Overview
OpenNode is a Bitcoin infrastructure provider focused on Bitcoin payments and payouts. The thesis: Bitcoin is the internet-native currency — global, decentralized, borderless, low-cost, and instantly final via the Lightning Network — and that makes it a better rail for online payments than legacy schemes. OpenNode powers Bitcoin payments for McDonald's El Salvador locations, Substack creator subscriptions, and Bitcoin-native companies like Fold. The demo walks through the OpenNode merchant dashboard (on-chain vs Lightning requests, live QR payment, USD auto-conversion so merchants have no volatility risk), payment buttons and invoicing, split settlement that keeps a configurable percentage in Bitcoin and the rest in fiat, and the OpenNode API for generating charges and paying out Bitcoin or Lightning without ever holding the coins.
0:00 Introduction to OpenNode — Bitcoin payments infrastructure
OpenNode is a Bitcoin infrastructure provider focused on Bitcoin payments and payouts. The thesis: Bitcoin is the internet-native currency — global, decentralized, scalable, low-cost, instantly final, borderless — making it a better technology for online payments than the traditional rails.
1:00 Why Bitcoin and the Lightning Network
Why OpenNode is Bitcoin-only: strongest network effects, strongest security, clearest regulatory framework. Scaling comes from the Lightning Network, a permissionless trustless second layer that moves Bitcoin payments infinitely without involving a third party.
1:30 Customers: McDonald's El Salvador, Substack, Fold
OpenNode powers Bitcoin payments for McDonald's El Salvador locations and online, Substack creator Bitcoin subscriptions, and Bitcoin-native companies like Fold and Lastbit.
2:30 Merchant dashboard — on-chain and Lightning payments
The OpenNode merchant dashboard: create a payment request and the payer can settle on-chain (traditional Bitcoin) or via Lightning (instant, low cost). A Lightning wallet QR scan completes in seconds — full final settlement on Bitcoin mainnet.
3:30 Auto-convert to USD — no merchant volatility
Merchants can auto-convert incoming Bitcoin to USD (or other supported fiat) at the moment a payment request is created. OpenNode absorbs the volatility risk — create a $1 request, receive $1 minus fees.
4:30 Payment buttons, invoicing, and e-commerce integrations
OpenNode ships payment buttons (no website needed), PDF invoicing, and integrations with Shopify, BigCommerce, and major open-source e-commerce platforms.
5:30 Split settlement: 40% Bitcoin / 60% USD
Split settlement lets a merchant keep any percentage of incoming payments in Bitcoin while auto-converting the rest to fiat. Applies to all incoming payments — including internal transfers between OpenNode accounts.
7:30 OpenNode API — one parameter required
Tour of the OpenNode API: generate an API key, create a charge in either satoshis or USD (OpenNode locks the exchange rate), and get back a Bitcoin address, a Lightning invoice, and enough data to build a custom checkout — or just link to OpenNode's hosted checkout page.
10:00 Webhooks and payouts — paying Bitcoin without holding it
Webhooks fire the moment a payment settles. Payouts go from OpenNode-to-OpenNode or directly to any Bitcoin address or Lightning invoice — top up in fiat, send Bitcoin, never touch the coins yourself.
Presented by Rui Gomes and Julie Landrum — OpenNode · website
Topics: Payments, Crypto Infrastructure
