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Bitcoin [BTC] Lightning Network gets another boost with release of lnd v0.6-beta update


ambcrypto.com 18 April 2019 07:50, UTC
Reading time: ~2 m

The Bitcoin [BTC] Lightning Network has taken the entire cryptoverse by storm with a lot of the promise of faster and safer transactions. The latest update from the Lightning Network Daemon informed users of the launch of the lnd v0.6-beta, with the key focus on improving data backups.

The blog from lightning engineering stated that:

“Prior to v0.6-beta, cases of data corruption could result in a loss of funds, but the “static channel backups” introduced in v0.6-beta provide for much-improved safety in these cases. Another major area of improvement as we move toward the release of our Desktop and Mobile mainnet apps are a series of improvements in usability, routing, and performance that will significantly improve the Lightning experience for end users.”

The organization stated that they have focused on areas like safety, routing, usability, compatibility and developer friendliness to make the latest update even more functional. The safety aspect of the update was contained within the Static Channel Backups, a standard way to ensure both on-chain and off-chain funds are backed up and recovered. The GitHub repository shows that for the full recovery of the lnd, a user will require two pieces of data: the 24-word cipher seed and the user’s encrypted Static Channel Backup file. The update also stated that:

“With “static” channel backups, the backup file only needs to be updated after new channels are created, as opposed to every time funds are sent or received. This is more convenient and simpler for users than “dynamic” backups that update with every transaction, but with the downside that SCB requires that channels be closed in data loss recovery scenarios.”

v0.6-beta also aims to make the Lightning Network more accessible to the layman with the automation of the channel creation processes through the development of a new Autopilot system. The Autopilot system will include smarter channel management techniques to pinpoint data routing nodes that are reliable. The developers behind the latest update assured users that the v0.6 has added significant features to its interface to “make things better for Lightning developers”.

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