Released the long-awaited beta version of the client software Lightning Network Daemon

Released the long-awaited beta version of the client software Lightning Network Daemon

15 Mar Lightning Labs has announced the release of the beta version of the client Daemon Lightning Network to the core network of bitcoin lnd 0.4. This edition is the fourth major release of lnd and the first beta version of Lightning.

Please note that this release is intended for developers of future applications of Lightning (Lapps), as well as technically educated users and prospective operators of the routing nodes. At this stage Lightning Labs focus on providing software infrastructure (such as lnd) required to bootstrap the network and is the platform for future applications, services and businesses. Since this is the first release lnd in the network, the company recommends that users experiment with small amounts.

To some extent, to protect users of the beta version, it was decided to allow one channel to transfer up to $1400, the size of a transaction should not exceed $400.

A few key points of the announcement:

New seed format, deterministic key — new and improved system for creating and key recovery simplifies the backup nodes and facilitates the recovery of lost data. These improvements are necessary and to remote backup services that will provide extra security for users of Lightning.

Improved fault tolerance — security of user funds is of paramount importance, and considerable efforts have been taken to ensure stability in case of power failures, network failures, hardware failures, and other unforeseen circumstances.

Only Segwit — removed support for the outdated addresses P2PKH, preference is given to a private Segwit and P2SH.

Routing metric of the nodes is provided with the tools to track your commissions and payments at a high level. Such tools can be used to optimize revenue, throughput, and reliability.

NOTE. Lnd this release contains several changes. In other words, any previous lnd installation is incompatible with the beta version. As a result, users need to delete the existing database file channel.db and install the new version. Before upgrading it is recommended to close any existing channels (in cooperation, if the peer is online). To simplify this process, we added a new utility.

It is worth saying that in addition to Bitcoin beta LND supports Litecoin network.

It beta was the most expected by users, and the reaction to it from many respected participants of the cryptocurrency community demonstrates the importance of this event for the Bitcoin network.

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