As BlueWallet decides to break away from LndHub, it wants to promote self-managed and decentralized solutions.
According to the official statement, BlueWallet is terminating the connection of the electronic site to Lndhub. BlueWallet will stop using electricity storage. In other words, BlueWallet users own Bitcoin
Electricity must be connected to the node in order to continue using the BlueWallet lighting service.
Lightning developer Calle, who tweeted about the change, told Cointelegraph:
“The most important thing is that people don’t panic and all the idiots suddenly deliver chain funds or the wrong balance of electricity.”
Lightning Network is a 2nd payment solution built on top of Bitcoin. The electronic network is often used to send small amounts of Bitcoin, called satoshis or sats, using electronic wallets.
Blue Wallet is a popular Lightning Network wallet with a liquidity of over 42 BTC ($1 million). According to data from Amboss, the main channel has a volume of 4 BTC ($95,000). BlueWallet is a popular e-wallet that is often recommended by well-known Bitcoin users.
Calle continues, “It’s important to understand that lndhub is a protocol that helps connect wallets to accounts. The wallet (in this case) is BlueWallet, but other wallets also support LndHub (for example, Alby or Zeus).
“Your account will be terminated, not LndHub or Bluewallet itself. The account here is hosted by the BlueWallet team and we no longer want to do this.
Users can still withdraw sats, but it will no longer be possible to create a new Lightning wallet or top up an existing Lightning wallet on the LndHub node. BlueWallet has publicly stated that users with seats connected to BlueWallet electronic terminals should leave immediately.
As this service is scheduled to expire on April 30, it is important for BlueWallet users to transfer their SAT to another service or wallet of their choice. However, regular Bitcoin wallets are not affected by this change.
Related: The growth of the Bitcoin Lightning Network is organic and comes from real-world adoption.
Some may see the change as a thorn in the side of Lightning Network adoption, but it’s important to note that BlueWallet “supports self-storage solutions only,” according to its website. This change requires promoting decentralized solutions and self-regulation.
Disclaimer: Cointelegraph has reached out to BlueWallet for comment. BlueWallet told me to check out the blog post on the BlueWallet website.