The Lightning Network (LN) development team, Lightning Labs, has released an update to its Litd node management tool to make it easier to use the Bitcoin micropayment network.
Announcing the new litd, the all-in-one suite for LND devs! Get LIT with:
🖥️ Improved Terminal web UI
🧮 Tools to simplify liquidity & accounting
🤖 Automated routing fee management
🌐 Accounts: many users, one node
Upgrade your Lightning stack today: https://t.co/GpCncMCBS1
— Lightning Labs⚡️🍠 (@lightning) April 26, 2023
In LN, users need to run nodes themselves to send and receive non-custodial payments, making it difficult for newcomers to interact with the protocol.
According to the developers, the Litd update greatly simplifies this process by abstracting some node functionality so that users do not have to manage them directly.
“We’ve heard constant feedback from the community and LN developers about the need to increase automation of node management and improve tools to seamlessly onboard new users,” said team member Michael Levan.
Usually, Lightning validators need to manually set the fee, so one of the main innovations was the automation of this process. The protocol now updates transaction fees on its own based on the number of weekly transactions of a particular node.
Also, thanks to the upgrade, multiple accounts can share the same node to reduce transaction costs.
Recall that in April, the head of Coinbase, Brian Armstrong, promised to integrate the Lightning Network.
That same month, MicroStrategy founder Michael Saylor converted his corporate email to a Bitcoin micropayment network.
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