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Lightning Network developers came up with the latest software release claims to create solutions for empowering developers
Lightning Labs has released Lightning Network Daemon’s (lnd) beta version. lnd is primarily a complete LN node implementation, having added support of the latest upgrades on the protocol including lots of improvements such as Taproot and Musig2. Lightning Labs is among the developers of the famous Bitcoin Lightning Network (LN).
Lightning Network Daemon is primarily a software component that is employed to handle numerous aspects across the Lightning network, including database management, revoking payments, payment invoices and several others. The all new software release Lightning Network Daemon is named as lnd 0.15 beta (v0.15-beta) and its sole focus includes empowering developers in order to create solutions regarding more use cases while leveraging the latest capabilities of the bitcoin network.
Product Growth Lead at Lightning Labs, Michael Levin, stated in the announcement that the first release of the company in the year 2022 had seen the participation of more than fifty contributors. Further, he added that the recent release enables whole Taproot support for the internal wallet of lnd, which will place it as the most progressive Taproot wallet at present. Moreover, this release also has experimental Musig2 API support that is compliant with the latest draft of the bitcoin improvement proposal (BIP).
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Musig2, which is a multi-signature scheme, has its primary goal to allow aggregate public keys’ creation that can be further used in outputs of Taproot while introducing new abilities like transaction authorization with Schnorr signatures.
The beta release, unlike the version before it, also acts toward removing the unnecessary data available in the revocation log bucket, which has even shown about a 95% reduction in the size of the database at the time of initial testing. Levin thinks that even though the update has no space for currently existing states, still a follow-up release might have a feature for migration that could reclaim the space in the old disk.
Lightning Labs is sticking with its commitment to making the Bitcoin Lightning Network more reliable, secure and robust, for which it has introduced more control like never before regarding the pathfinding preferences. This ultimately helps in reducing the transaction fees as it first identifies the route with the lowest possible cost. The lowest power required by the Bitcoin network for the year 2022 recorded was about 10.65 GW. This resulted in the computing power needed for mining bitcoin (BTC) blocks to 199.225 EH/s.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
