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Bitcoin Wallets that use the Lightning Network

Jul 11, 2022  •  @themolitor  •  5,750
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For those familiar with making payments on the blockchain, the biggest challenge these days is how long it can take for transactions to complete. The current average is around 2 minutes, but in some cases—during peak network traffic times—it can take up to SIX HOURS! 😬

To reduce the processing time—and fees—of transactions, the Bitcoin community (specifically Joseph Poon and Thaddeus Dryja) have come up with a magical solution… the Lightning Network

Wait, why so slow? 🤷‍♂️

The cryptographic protocol widely used on the blockchain is expensive and slow because EVERY computer on the network has to verify EACH transaction.

As a result, the “on-chain” network can only handle around 7 transactions per second 🤦‍♂️. For comparison, credit card companies can process around 5,000.

 

So WTF is LN? 🤔

The Lightning Network (LN) is a “layer 2” protocol that sits on top of Bitcoin and enables the processing of transactions without the need of every computer to verify the request.

This method enables 1 MILLION transactions per second and can process payments within milliseconds of the initial request.👌

Not only does this make using bitcoin faster and cheaper than credit cards, it also enables microtransactions with SATS (the smallest divisible amount of Bitcoin) that were previously too costly to bother with.

While the Internet doesn’t have a native currency yet, we think there’s a pretty goooood chance that Bitcoin—powered by the Lightning Network—is it.

Bitcoin wallets that use LN

Alrighty, so now that we understand why the Lightning Network kicks a$$, below are a handful or LN-supported Bitcoin wallets that you can use with WebDeveloper.com.

Check ’em out and have some fun! 🤘🥳🤘

Cash App

Easily the most popular wallet app around. The Cash App is a robust platform that does more than just Bitcoin transactions, making it even more appealing to a general investing-minded audience. Additionally, they are spearheading the growth of LN by providing a Lightning Developer Kit (LDK) for wallet providers.

They also put together a hilarious video promoting LDK.

Blue Wallet

Blue wallet is one of the few wallets that support a wide variety of operating systems and devices. Not only is there a desktop and mobile option, but you can even use this wallet on your Apple Watch.

Muun

Despite only working on mobile devices, Muun is a simple interface that provides a quick and easy way to get setup in just a minute or two. In addition to having multiple support channels, they also have a solid following on Twitter and are active in their replies.

Strike

Strike is interesting. Not only do they offer a chrome extension, but they also have a developer API they recently announced that enables anyone to “build instant, global, superior payment experiences“. They’re also actively hiring, which is typically a good indicator of future development.

More LN Reading 🤓

Okay, now what?

As adoption of the Lightning Network grows and use cases expand, I’m most excited about bringing LN to WebDeveloper.com!

From the SATS page, you can use your LN wallet to add SATS to your WD account like this…

With SATS in your account, you can tip WD authors, buy code and even grab some swag from the WD store—coming soon!

If you have any questions or comments, my DMs are open @theMOLITOR 👍

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