Electrum To Support Bitcoin Lightning Network Soon July 5, 2019 July 5, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 5, 2019 by Kelly Cromley

Electrum To Support Bitcoin Lightning Network Soon

Electrum, the Bitcoin (BTC) wallet, will soon support Lightning Network (LN), as per Forklog, a cryptocurrency news focused outlet. The news was reported on Telegram earlier today.

Electrum founder Thomas Voegtlin, through a social media post, disclosed the aforementioned LN support at the BIP001 conference in Odessa, Ukraine.

Notably, the wallet released its latest version earlier this week.

The off-chain scalability feature enables Lightning Network users to transfer Bitcoin from one address to another almost immediately, virtually without any transaction fee.

LN technology became popular in 2019, mainly due to promotional activities spear headed by prominent tech entrepreneurs such as Jack Dorsey, CEO of Twitter. However, it is still a bit complex for ordinary users.

Several products have been introduced recently to ease users’ experience. Lightning developers regularly provide updates out of their own interest. In June, Bitrefill, a crypto payments startup, introduced LN features on behalf of Coinbase, the US based wallet provider.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.