Blockstream, a leading and influential Bitcoin technology startup, has introduced a service designed to make it easy to configure a node on the Lightning network of the cryptocurrency.
Known as Greenlight, the service allows users to maintain control over their funds while setting up a Lightning node using the The company's cloud infrastructure, Blockstream said. Private keys for on-chain and off-chain transactions never leave the user's custody; instead, users interact with their nodes.has a simple user interface powered by Blockstream.
The Lightning Network has grown tremendously over the past two months and has also become easier to use with the introduction apps like Jack Mallers 'Strike. Greenlight 's simple interface promises to attract more users. Read more: Nodes on Bitcoin's Lightning network have doubled in 3 months
Considered a“ second layer ”system, Lightning is designed to enable microtransactions that can be too expensive and slow to execute on the Bitcoin blockchain during times of high network traffic. If widely adopted, it could render BTC more convenient for daily payments (pencoffee cups).
But Lightning software can be confusing for newbies. Many non-technical enthusiasts often find themselves trusting a third-party service operator with their private keys in exchange for a simpler setup, undermining one of Bitcoin's main selling points: control over its money.
"Getting started with Lightning can be a challenge for some, especially the more technical things like running channels or creating backups and watchtowers," said said Christian Decker, Senior Technical Engineer at Blockstream. With Greenlight, the company aims to give users the best of both worlds.
Greenlight is built on c-lightning, an implementation of the Lightning Network protocol optimized for performance and l 'extensibility. Blockstream has been very public on its support for c-lightning in the past. The company said it believes c-lightning can keep transaction fees low; however, Greenlight also allows users to “share” a node, thus sharing the costs of the fees.
Greenlight is designed to be user-friendly and educational for potential Lightning users or even just for amateurs. Some developers are crippled by the fact that they can't run their own nodes, Blockstream said. Greenlight is intended to break this barrier and allow further development.
The service is available on the Sphinx and Lastbit Lightning payment apps and will be made public over time. During this deployment period, Greenlight will be free to use.