October 28, 2021

Developers unveil service to create channels in Lightning Network

Developers unveil service to create channels in Lightning Network

Bitcoin blockchain infrastructure startup Voltage has launched the beta version of its Flow service. It facilitates the process of creating Lightning Network (LN) channels.

Flow uses Lightning Pool from Lightning Labs. The non-castodial peer-to-peer platform solves the problem of a lack of liquidity in the LN.

The developers propose to use APIs to create orders in this marketplace. Node operators have no need to track incoming liquidity. They can request and receive a channel of a given size.

The developers claim that Flow allows to acquire channels from other nodes rather than from central hubs. With Sidecar channels, users are able to make connections to some of the better nodes. This can help others in setting up nodes, connecting customers or providing channels for a fee.

The developers will introduce a user interface soon.

Voltage charges a "small fee" - the amount is not specified. There are no monthly service fees.

Recall, Arcane Research analysts predicted that the number of Lightning Network users will exceed 700 million by 2030.

According to Glassnode experts, Twitter's addition of the ability to accept cryptocurrency donations and El Salvador's bitcoin legalization led to unprecedented dynamics of LN indicators.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

View All Posts By Jack Evans