Electrum Wallet Announces Upcoming Lightning Network Support

Electrum is the latest popular wallet service to announce the addition of lightning network support.

The wallet service’s founder, Thomas Voegtlin, told crypto news outlet CoinDesk at the BIP001 blockchain event in Odesa, Ukraine, that Electrum’s lightning network implementation is now close to an official release.

We’ve been doing this work for about a year in a separate branch [on GitHub] and we’ve reached the point when we are ready to merge it with our master branch,” he explained.

This is going to happen in the coming weeks until the end of July, and it means that the next major release will have lightning support.

The lightning network lets users make faster payments at lower fees at a higher transaction throughput than that provided by the bitcoin network by itself. Different companies are developing and have rolled out various iterations of the lightning network.

Electrum is one company that chose to develop its implementation instead of integrating with existing lightning clients. According to Voegtlin, this was because Electrum wanted to give its users full control over their funds.

Voegtlin also noted that while Electrum uses its servers for bitcoin transactions, it will not be using them for the upcoming lightning network implementation.