According to an official statement, BlueWallet is ending its Lightning Node connection to Lndhub. BlueWallet will end Lightning custodial operations, meaning that BlueWallet Lightning Network Bitcoin (BTC) users must connect to nodes in order to continue using BlueWallet lighting services.
What does the closing of BlueWallet LndHub mean for you?
– If you use BlueWallet for online bitcoins: ✅ nothing
– If you use other LndHub services (eg LightningTipBot, LNbits, Alby): ✅ nothing
– If you are using a Lightning account hosted by them: ⚡️ Remove your Satoshi.Read more
— street ⚡️ (@callebtc) February 23, 2023
Kalle, the lightning developer who tweeted about the change, told Cryptooshala:
“The most important thing is that people don’t panic and don’t panic, what if noobs withdraw their funds on the network or incorrect lightning balances.”
The Lightning Network is a second layer payment solution based on Bitcoin. The Lightning network is used to send small amounts of bitcoins, called satoshis or sats, often using a Lightning wallet.
Blue Wallet is a popular Lightning Network wallet with over 42 BTC ($1 million) in liquidity. According to Amboss, its largest channel has a bandwidth of 4 BTC ($95,000). BlueWallet is a popular Lightning wallet, often recommended famous bitcoiners.
Kalle continued: “It is important to understand that lndhub is a protocol that helps you connect wallets to accounts. The wallet (in this case) is BlueWallet, but other wallets also support LndHub (like Alby or Zeus).”
“Account closes, not LndHub or Bluewallet. The account here is hosted by the BlueWallet team and they don’t want to do that anymore.”
While users will still be able to withdraw their Satoshi, creating new or funding existing Lightning wallets on LndHub is no longer possible. BlueWallet has publicly stated that users who have satellites connected to BlueWallet’s Lightning node should move them as soon as possible.
The service will close on April 30, so it is imperative that BlueWallet users move their Satoshi to another service or wallet of their choice. However, this change will not affect regular bitcoin wallets.
The growth of the Bitcoin Lightning network is occurring organically through real-world adoption.
While some may see this change as a thorn in the side of Lightning Network adoption, it’s important to note that BlueWallet will “only support self-storage solutions,” according to the website. The change is aimed at promoting decentralized solutions and self-service.
Disclaimer: Cryptooshala has reached out to BlueWallet for comment. BlueWallet suggested checking out the blog post on the BlueWallet website.
Credit : cointelegraph.com
