ACINQ Unveils Its ‘2nd Generation’ Bitcoin Lightning Network Wallet

French Bitcoin (BTC) Lightning Community (LN) implementation developer ACINQ released its 2nd-era Lightning Community wallet, Phoenix, by means of Twitter, on Oct. 18. A video clip accompanying the article demonstrates a range of wallet features, all accessed by using a person-pleasant interface.

From set up to acquiring and producing payments in under a moment

From a refreshing set up of the wallet app on an Android unit, setting up a new wallet is a one simply click away. While the new wallet has no open channels, it can continue to produce an LN invoice and acquire resources.

On receipt of an incoming transaction, the application gives to set up a payment channel on-the-fly for a set cost. The user can either take the charge, preventing incoming liquidity troubles completely or refuse the payment.

At the time the wallet is funded, Lightning Network payments can be produced by scanning QR invoices and pressing pay out. Phoenix is equipped to come across payment routes devoid of a routing table sync.

Backup/restore and swapping to on-chain Bitcoin wallets

Backing up the wallet basically generates a 12-phrase seed, which will restore the wallet on an additional machine. The only issue dropped in the system is the transaction background.

Creating a payment to a typical Bitcoin tackle alerts the consumer that the transaction will be a swap. The person need to simply click to ask for the swap, and then simply click pay back the moment the swap and payment have been confirmed.

All of the channel administration and logistics of on and off-chain transactions are dealt with below the hood.

Meanwhile, ACINQ nonetheless intends to continue on building its primary LN wallet, Eclair, for superior consumers.

Previously this thirty day period, the company declared it experienced secured $8 million in funding from companions such as a French point out-owned lender.


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