According to an official announcement, BlueWallet will be disconnecting its lightning node connection to Lndhub in the near future. BlueWallet is going to stop its custodial lightning operations. This means that customers of BlueWallet who are also members of the Bitcoin (BTC) Lightning Network will need to connect to nodes in order to continue making use of BlueWallet’s lighting services.
“The most essential thing is that people don’t panic, and suddenly noobs take out their on-chain money or incorrect lightning balances,” said one person. “This is the most crucial thing.”
Bitcoin serves as the foundation for the Lightning Network, which is a layer-2 payment system. Small sums of bitcoin, also known as satoshis or sats, may be transferred between users with the use of the Lightning Network. This is often done via a lightning wallet.
Blue Wallet is a well-known Lightning Network wallet that has a liquidity pool of more than 42 BTC (one million dollars). According to the statistics provided by Amboss, the network’s biggest channel has a capacity of 4 BTC, which is equivalent to $95,000. BlueWallet is a well-known lightning wallet that comes highly recommended by some of the most prominent Bitcoin users.
Calle said, “It is essential to understand that lndhub is a protocol that facilitates the linking of wallets to accounts. BlueWallet is the wallet that supports LndHub in this instance; however, other wallets, like as Alby and Zeus, also support LndHub.
It is just the account that is being closed, not LndHub or Bluewallet in and of itself. This particular account is hosted by the BlueWallet team, and they have expressed that they no longer want to be responsible for it.
Although users will still be able to withdraw their sats, the LndHub node will no longer let users to create new lightning wallets or refill current ones. BlueWallet has issued a public statement advising customers who have satellite wallets linked to BlueWallet’s lightning node to transfer such wallets as soon as possible.
Because customers of BlueWallet will no longer have access to the service after April 30th, it is imperative that they transfer their sats to another service or wallet of their choosing before the service is discontinued. However, Bitcoin wallets that are used regularly will not be impacted by this change.
According to the website, BlueWallet will “only support self-custody solutions,” which is a crucial fact to keep in mind despite the fact that some people may regard the move as an impediment to the widespread adoption of the Lightning Network. The modification intends to encourage decentralized solutions and self-custody in its recipients.