Bitcoin wallet service provider BlueWallet has decided to shut down Lndhub.io, a Lightning Network node on the Bitcoin network used to store and trade satoshis (sats), the smallest denomination of the main cryptocurrency.
He lightning network is a Layer 2 protocol layered on top of the Bitcoin protocol, used to process micropayments between participating nodes to facilitate faster transactions. BlueWallet is one of the most popular Bitcoin Lightning-enabled wallets on the market.
BlueWallet closes Lndhub.io
According to a blog post, BlueWallet revealed that although users can still withdraw their sats, it would be impossible to create new wallets or top up existing ones on the LndHub node. They must move their funds before the service shuts down completely on April 30, 2023.
The wallet provider revealed that it started Lndhub as a “weekend experiment” on the Lightning Network. However, due to the emergence of numerous services offering more scalable solutions, BlueWallet has decided to end the experiment because it has served its purpose.
BlueWallet also noted that self-hosted Lndhub solutions would continue to run and be supported by the wallet for interested individuals and entities. Such people could connect their own LndHub from BlueWallet or other programs that support the LndHub API specification. It is worth noting that the regulator’s BTC wallets are not affected by the change.
Bitcoin self-custody promotion
Furthermore, BlueWallet stated that while the development may seem like bad news, it is the way the platform supports self-custody solutions that is good for Bitcoiners.
Speaking with Cointelegraph, Calle, a Lightning developer who tweeted about the update, saying:
“Account is being closed, not LndHub or Bluewallet itself. The account here is hosted by the BlueWallet team and they don’t want to do this anymore. The most important thing is that people don’t panic and all of a sudden have newbies dump their chain funds or wrong flash balances.”
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