Electrum Wallet to support Bitcoin Lightning Network

05 Jul, 2019
by Manshi Soneji Mamtora
News
Electrum Wallet to support Bitcoin Lightning Network

Electrum Bitcoin Wallet will support Lightning Technology. It is a second layer of technology and ensures instantaneous transfer between parties, with minimal fees.

Lightning Network on Electrum  

Russian cryptocurrency news outlet Forklog reported on Telegram July 5 that Bitcoin wallet, Electrum will soon host support for Lightning Network or LN. Lightning Network is a second layer technology for bitcoin that uses micropayment channels to scale the blockchain's capability of conduct transactions. 

Lightning allows an instantaneuos transfer of bitcoin between parties, paying hardly any transaction fees. 

Jack Dorsey's on Lightning

Electrum is one of the oldest Bitcoin wallets launched in 2011 and it upgraded recently. Electrum will be the first to launch LN technology, which is still considered to be under its nascent phase. 

It gained some popularity in 2019 thanks to promotional soundbites by the likes of Twitter CEO Jack Dorsey but is still broadly too technical for the average user. 

Various products have been launched to improve the user experience, Lightning too, has been coming out with its own improved versions. 

About a month back, Bitrefill announced its first-ever public Lightning Network channel to carry BTC. The channel was opened in collaboration with Bitcoin technology company Acinq.

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