After nine months of the official announcement, Electrum finally begins testing the Lightning network for faster transactions at a low cost in fees.
The portfolio is already in the second phase of beta testing for implementation. The developers said they had written their own implementation of the Lightning Network node and merged it with Electrum's main code.
Lightning is a second-tier solution for Bitcoin, which functions as a network of integrated payment channels, which through them, transacts faster and cheaper.
Lightning transactions do not have to wait for block confirmations or pay mining fees, as they are not transmitted to the network, only the status of the channels is updated.
Other portfolios are also already testing this new experimental technology, such as the Wallet of Satoshi, bluewallet, Eclair, Zap, among others.
At Electrum, the developer documentation suggests that users use a server that they trust or configure a watchtower own, since “servers can lie about states of a channel”.
Finally, Submarine swaps were also implemented, an Electrum service that, through a central server that uses Boltz technology, allows you to exchange on-chain bitcoins for “lightning bitcoins” for a fee.
Adoption keeps growing
It is worth remembering that more and more services are starting to test this technology, which feeds the ecosystem to become more decentralized, since there is a risk that the network will focus on few payment channels.
About 7 months ago, the Bitfinex exchange started accepting instant deposits and withdrawals using the Lightning network, and with that it managed to reach R $ 216 thousand in a few days.
In Brazil, the Foxbit brokerage has been testing the technology for a long time. Other CEOs and exchanges are already encouraging the use of the second tier with small values.
Want to learn how to use this new technology? Check out the tutorials below and try it for free:
++ How to use the Lightning Network (video tutorial)
++ Earning free cryptocurrencies with faucets