Blockdaemon launches support for Bitcoin lightning nodes

Blockdaemon, a multi-chain, multi-cloud network management tool that can deploy nodes and connect them to blockchains within minutes, announced it is has launched support for Lightning Network nodes.

During this early stage of Lightning adoption, Blockdaemon sees exchanges and payment providers as being the first to benefit from Lightning. Lower fees and instant withdrawals make Lightning transactions more efficient than on-chain transactions.

It is estimated that exchanges account for nearly half of all bitcoin transactions, thus there are tremendous benefits for individual exchanges as well as Bitcoin overall in taking advantage of Lightning.

First, fee savings could be in the billions, and the Bitcoin block size would nearly half. Additionally, privacy would be increased since not every transaction would be on-chain.

Benefits of the Lightning Network for exchanges include:

• 99.99% uptime and multiple nodes for redundancy
• Security (SOC2 compliance) and HSM for hotkeys
• Adding and deleting nodes as needed for load-balancing
• The ability to query the node
• Tooling to manage liquidity (i.e. never having to think about rebalancing the channel)

Running Lightning Nodes on Blockdaemon

The Blockdaemon Lightning Network offering is nearly complete, and is already running a high-performing hub, with the routing performance available here.

Blockdaemon also offers a platform-dedicated Bitcoin node for $149 per month, featuring:

• Choice of cloud and geo
• The LND daemon auto-installed
• The RTL Dashboard for Lightning administration
• Platform standard monitoring to ensure high uptime
• No limit API access to your node

In addition, Blockdaemon has extra features to offer exchanges and enterprises specifically what they need:

• Rich monitoring UI with detailed data about node health and performance
• Launch on-premise or in your own cloud easily with BPM – Blockchain Package Management
• More control over configuration and optional add-ins via the Blockdaemon marketplace – e.g. BTCPay server as an optional add-on
• Additional administration dashboards & tools

“We’re ecstatic about the potential of Lightning to ease the burden of on-chain transactions for Bitcoin and the timing feels right for proper enterprise tooling for Lightning nodes as Enterprise adoption is starting to grow. Stay tuned for our latest Lightning implementation and look out for our Marketplace launch that will offer additional third-party solutions.”
– The Blockdaemon Team