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UX improvements in Lightning payments.

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by COINS NEWS 76 Views

I understand that most folks on this sub are investors rather than those looking for ways to spend crypto. But if you are one who has an interest in the latter, are you up to date about recent Lightning UX enhancements?

Seeing the concerns around high BTC fees, hopefully there is enough awareness of the major strides that Lightning has made in recent months. I am referring to non-custodial wallets like Phoenix who have implemented splicing, inbound liquidity request. If you have been frustrated by the UX from an year back, then that means nothing for what the Lightning UX is now. You no longer have to struggle with capacity across multiple channels (thanks to splicing) nor do you get surprising on chain fees due to the capacity of single channel being always very clear and having ability to request sufficient inbound liquidity in advance.

All this is not to deny that Lightning still has some onchain footprint but that is highly optimised now and a user, with some simple planning, can easily make hundreds of low fee payments after a channel is opened.

If you have seen the number of Lightning channels and locked btc decline in recent months, it is very much a consequence of routing being more efficient due to the splicing upgrade and associated channel usage efficiency.

For those who depend on Lightning because of economic situation in their countries, it makes a lot of sense to figure out how to pay in a low cost manner while remaining in the asset that has global recognition and liquidity. They will surely understand what I am saying based on how much the attempt to keep funds in the likes of bch, xlm, xrp, ltc, nano, etc for saving a few pennies in transaction costs has actually cost them over the longer period by direct loss of value.

Don't believe. Try it out.

submitted by /u/aaj094
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