Though the Lightning Network, a second layer solution to scale Bitcoin, has seen enormous growth this year, it is still somewhat technical to use for many. Now one of the major teams working on the network, Lightning Labs, has announced on their blog that they are releasing a much more user friendly wallet aimed at bringing new people onto the Lightning Network.
In a nutshell, the LN works by using off chain "channels" which can store Bitcoin and can facilitate much quicker/cheaper transactions, only recording to the blockchain when the channel closes. This is all well and good, but of course setting up a LN node is a fairly technical affair.
With the release of this app, the team is keeping it simple. The UI is streamlined and straightforward. It isn't as feature rich as advanced users may want but it is trying not to overwhelm newcomers.
Now users don't need to run their own LN node in order to participate, as the app connects to Lightning Labs nodes to open channels, though of course the user still has the option of running their own node.
The app treats cold storage as a sort of "bank account" allowing users to only put the amount they want active into a channel, effectively making it "hot." The team hopes this will minimize risk for users as "hot" wallets are technically vulnerable to attck.
This is an optimistic step forward for the Lightning Network as it is still the most developed solution for scaling Bitcoin so that it may see a broader mass adoption. Stay tuned to Chepicap for updates!