- Updates are aimed at making Lightning easier to use
- The developers have added commission management functionality
The team at technology startup Lightning Labs has released an update to its Litd node management tool..
Customers will now be able to run Lightning nodes to send and receive BTC without third-party assistance.
The company statement says:
“Today we are pleased to unveil a new set of features in the latest Litd release, including automated commission management, custodial accounts, more detailed LNC permissions and a pool order panel..
All features are developed based on feedback from the developer and node operator community.”
One of the Litd updates is the “automatic” commission update.. Usually the one who manages the Lightning node must manually increase or decrease the commission.
But Lightning Labs has developed a new algorithm to dynamically update these commissions based on how many payments each user sends each week.
The next feature is the introduction of custodial accounts. Predominantly each user has one node. But the new account system allows many users to share a single Lightning node.
Michael Levan, Product Development Manager at Lightning Labs, said:
“With accounts, developers can engage less advanced users with Lightning without having to understand any of the complexity..
Liquidity is the main obstacle faced by new users.
They need to first make sure that the Lightning channel is open to them in order to receive funds, which requires some knowledge of how Lightning works.
New users don’t want to deal with all that.”
All of these updates are part of an effort to make Lightning easier for the average user to use.