Bitcoin Electrum Wallet announces Support for Lightning Network

Electrum, one of the most popular Bitcoin Wallets, has announced that the next Version of the Wallets will support the Lightning Network. The company announced that it has developed a Lightning-Node implementation and that with the Master Branch of Electrum, together have led. A release date has not been announced yet.

A very popular Bitcoin Wallet, which is almost as long as Bitcoin itself, is on the verge, the support for the Lightning Network to introduce. Electrum announced yesterday that the upcoming Software Upgrade, Version 3.3.9, Lightning payments will support. In a Twitter Post on 14. October, the company said that it had written by his own Lightning Node deployment and with the Master Branch of the Wallets together.

The next release of Electrum wants to support Lightning payments. Our lightning node implementation has been merged into Electrum’s master branch.

— Electrum (@Electrum Wallet) October 14, 2019

The Wallet, which is currently in Version 3.3.8, is one of the first few Wallets will be that offers its users the functionalities of the Lightning Networks available. The network is a Second-Layer solution that builds on the existing Bitcoin Blockchain, and it allows users to fix some of the biggest problems. So can be improved with the Lightning Network, the speed of Bitcoin transactions much,and with lower costs. Lightning allows users to transactions to ship in a matter of seconds. These transactions run through Lightning channels, which are connected by Lightning-node.

What makes this Upgrade for Electrum so important, is the fact that in the Wallet its own node is operated, the provides users with a Gateway to the Lightning network. As the company confirmed, must operate by the users of the Wallets a Lightning Node to be able to use this feature.

Electrum will be a lightning node. You won’t need to run anything else.

— Electrum (@Electrum Wallet) October 14, 2019

The company said that it has written its own implementation of the Lightning node in Python. The news about the introduction of the Lightning was absorbed by the crypto-Community incredibly well, with dozens of Twitter users praising the company for its efforts. Many users have donated even small amounts of Bitcoin on Bottle Pay a cryptographic Micropayment platform, to the company.

The Electrum Wallet was already launched in 2011 and had a bit of a rocky Start, since many of the transactions failed and the money was lost. Since then, the errors are fixed, the Wallet abr the undisputed number 1 among the Bitcoin Wallets.

Lightning and its implementation in Electrum was first mentioned at the beginning of July, when the Russian crypto news Agency Forklog reported that Thomas Voegtlin, founder of Electrum, said that the company has been working for the past year. Voegtling is reported as saying that the next “Major Upgrade” of the Wallet will have Lightning-functionality, and that it should be introduced in the following months. The Lightning technology is often seen as a solution to the various scalability problems of the network. Because its transactions are off-chain may allow the Second-Layer-Protocol fast transactions, even if the Bitcoin network is clogged due to a high number of transactions. This is especially important for traders, because they need fast transactions.

However, the company must publish a start date for the Version 3.3.9, and other technical Details about the node to publish.

In addition, it is important to note that the Lightning Network is still experimental. In the past month, the developer Rusty Russell discovered, for example, a vulnerability that could cause users lost their BTC, so that is a broad acceptance of the technology for some time.

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