Blockdaemon launches support for Bitcoin lightning nodes

Lower fees and instant withdrawals make Lightning Network transactions more efficient...

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:

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:

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

“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