Electrum Wallet Gets Cozy with Bitcoin’s Lightning Network, Can Now Send LN Payments Directly
Electrum Wallet, a popular wallet service, has recently announced to the world that it would start to support the Bitcoin Lightning Network. The founder of the company, Thomas Voegtlin, talked to the crypto media during a blockchain in Odessa, Ukraine, and affirmed that the launch of this new feature is very close now.
According to the CEO, the work to implement the Lightning Network on the project has been going on for a year now. After a year in a separate development, the company has finally reached the point in which they were able to merge the development with their main branch.
The launch is set to happen until the end of the current month, so the next release to be out will probably have the support the LN support.
However, there is a main difference in the implementation that will be used. Electrum will use its own implementation of the LN network, not one of the existing clients. This, the CEO believes, will give the users more control over their funds.
He also affirmed that the new product is set to be similar to Eclair, a Lightning Network-based wallet that uses the Electrum servers to work.
Electrum is one of the oldest BTC wallets in the market and this will prove to be a major upgrade in speed and reliability.
About the Lightning Network
The Bitcoin LN is a layer 2 scaling solution that is used to make the payments using Bitcoin faster. It does off-chain payments, so they are able to go through even when the network is too clogged.
Unfortunately, the project was very buggy at release at the beginning of the last year, which harmed adoption a bit right from the start and draw criticism from communities such as the Bitcoin Cash (BCH) community, one of the main competitors against Bitcoin Core (the original BTC).
Since the end of last year, however, the Lightning Network has evolved a lot and stabilized most of its issues. With the help of the Lightning Torch initiative, in which several people passed forward transactions, the awareness about the project was raised even more. Even figures such as Jack Dorsey have talked about it during the promotional initiative.