Bitcoin Lightning Network developer updates node software with Taproot support
The latest software release, named lnd 0.15 beta (v0.15-beta), aims to empower developers to create solutions for more use cases by leveraging the Bitcoin network’s capabilities. Lightning Labs, a developer of the Bitcoin (BTC) Lightning Network (LN), released a beta version of the Lightning Network Daemon (lnd) — a complete implementation of the LN node — with added support to the latest protocol upgrades including Taproot and Musig2 among other improvements.lnd is a software component that handles various aspects within the LN including managing a database, generating payment invoices....
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The easiest way to set up and run a Lightning Network node is with an out-of-the-box solution. The majority of full Bitcoin node products also run Lightning clients and they have condensed all of the essentials for running a node into small boxes — you just need to plug them in and follow prompts. ...
A little more than two months ago, Taproot went live. What does the biggest update to the Bitcoin network in years bring to the table? How can it help the increasingly popular Lightning Network? That’s exactly what the article we’re about to summarize is about. It starts by informing us that “Bitcoin even has a scripting language,” and that it’s called Script. Related Reading | Number Of Bitcoin Lightning Network Nodes Jumps 23% In Three Months But before we get into that, what is Taproot? “Taproot is a combination of three Bitcoin Improvement Proposals (BIPs) that enhance this....
This upgrade focuses on the expansion of the Bitcoin network’s smart contract capabilities and improves privacy on the network. Bitcoin is set to undergo a major network upgrade, Taproot, in nearly two days, i.e., on Nov. 14 or 255 blocks later, as per data from Taproot.watch. This is the first significant upgrade since the Segregated Witness (SegWit), which eventually culminated in the development and launch of the Lightning Network in 2018. The original Taproot proposal was made by Bitcoin core contributor and former Blockstream chief training officer Gregory Maxwell on Jan 23,....
This week’s newsletter covers using Lightning Network offers to address stuck payments, Taproot activation and more.
People who run Lightning Network nodes can charge fees to process transactions through their Lightning channels, thus earning small amounts of BTC. For instance, depending on network activity, a single Lightning node could route $10,000 worth of transactions per month and receive a 0.25 percent fee ...