Bitcoin Lightning Network Receives Major Update

English Jul 1, 2022

Lightning Labs this week announced the release of the beta version of a major update to the Lightning network, which will incorporate several improvements.

The scope of the update is to bring developers and users access to the latest Bitcoin protocol updates which include Taproot and Musig2.

According to the official Lightning Labs blog post, more than 50 contributors participated in building this new version.

The main improvements brought to the crypto community are:

  • Ability to create and spend from Taproot addresses
  • New RPC methods to support MuSig2 signing
  • Database space optimization (~95% reduction), reducing log storage
  • More control over transaction time and cost clearing
  • General improvements, including a new neutrino subserver

The latest version will support Taproot, a soft fork aimed to make Bitcoin more private, secure and scalable, with that the internal lnd wallet will be able to generate P2TR addresses for receiving and sending via bech32m. Support for an experimental Musig2 API has also been added.

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Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.