Support for bitcoin’s lightning network will soon be added by the popular wallet service, Electrum. Bitcoin lightning network being supported by Electrum wallet. Global X change.
Thomas Voegtlin, Electrum’s founder shared with a media source, Coindesk, that the solution for sending lightning transactions with the Electrum wallet is approaching its official release. He discussed this from the BIP001 blockchain event in Odessa, Ukraine. Globalxchange.
Voegtlin said, without revealing a specific release date:
“We’ve been doing this work for about a year in a separate branch [on GitHub] and we’ve reached the point when we are ready to merge it with our master branch. This is going to happen in the coming weeks until the end of July, and it means that the next major release will have lightning support.” Global xchange.
Bitcoin lightning network being supported by Electrum wallet. Several iterations are in development by different projects. The lightning network is an in-development “layer 2” scaling technology that is aimed to enable:
faster payments
lower fees
greater transaction throughput than the bitcoin network can provide directly
Globalexchange. Electrum chose not to integrate with the existing lightning clients. Voegtlin explained that they instead developed their own implementation.
“We want to give users control over their funds,” he said.
Voegtlin further explained that even though the product will be similar to that of Eclair, the lightning wallet, because it uses Electrum servers to interact with the bitcoin network, and Electrum uses its servers for bitcoin transactions, it will not for the interaction with the lightning network. Global X change.
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