Bitcoin News, Top Stories

Electrum Wallet To Soon Add Support For Bitcoin Lightning Network.

In line with a recent report by ‘Forklog’, renowned Bitcoin [BTC] wallet service provider ‘Electrum’ will soon introduce support for the Lightning Network [LN].

Within a recent social media update, the publication aforesaid that the founder ‘Thomas Voegtlin’ has revealed the approaching launch at the ongoing BIP001 conference in Odessa, Ukraine. 

Electrum, one among the oldest bitcoin wallets on the market since 2011, added that the LN practicality would come as a part of an impending major upgrade.

The most recent version of the ‘wallet‘ came earlier this week.

Electrum is among the primary major wallets to bring LN to the mainstream adoption, as the technology is itself within the experimental phase.

A supposed ‘off-chain’ scaling mechanism, Lightning ‘permits‘ users to transfer and receive bitcoin almost in a flash, paying hardly any transactional fee. 

The technology gained considerable promotion in 2019 by the likes of Twitter CEO ‘Jack Dorsey’, but still remains generally too technical for the common user.

However, several products have though emerged trying to simplify the user experience, while Lightning developers themselves ‘release‘ improvements of their own.

Also last month, cryptocurrency payments startup named ‘Bitrefill’  ‘revealed‘ LN feature on behalf of renowned United States wallet service provider ‘Coinbase’.

Leave a Comment

Your email address will not be published. Required fields are marked *