![]() The main prerequisite for Lightning network was enabling SegWit which solved the malleability issue ( BIP141). The architecture of payment channels permits the formation of a network where any peer on the network can pay any other peer, even if they do not directly have a channel open between each other. At the bottom right corner you can see the Lightning icon, indicating whether you are synced to the network. You should be able to see a new Channels tab, or make it visible under View > Show Channels. ![]() #ELECTRUM LIGHTNING UPGRADE#It is a proposed implementation of Hashed Timelock Contracts (HTLCs) with bi-directional payment channels (a payment channel where payments can flow in both directions, from Alice to Bob and back to Alice) which allows payments to be securely routed across multiple peer-to-peer payment channels. All you need to do is upgrade your Electrum client. Hopefully more apps like RLT or Thunderhub take advantage of this, but until then, I hope this guide helps you.The Lightning network is an off-chain approach for solving Bitcoin scalability issues. I’ll be honest this is pretty complicated, but during high fee environments, it’s simply not acceptable to make 3 or 4 channel opens as individual transactions. Your other channels in a batch will operate just fine. After 6 confirmations, all of them should be officially opened and usable.īecause each channel gets its own funding address, when you or your peer closing one of these channels, only the individual channel is affected. If all went well, each of your channels will be opened! Take a look at the lncli pendingchannels command to verify this. If something screwed up before the last channel published, or you ran out of time, then you may discard the signed PSBT and try again. You must do the last channel last because the negotiation needs to happen with each channel before the transaction is actually published to the network. At the very last channel, it will publish the transaction to the network. Starting with the first channel, paste the signed PSBT string into each command window.Īt each step it’ll tell you the funding transaction id. psbtĬopy the output again (or add on | pbcopy if on a Mac). Select a UTXO from the Electrum "Coins" tab (you may have to unhide this tab from the toolbar) that meets this amount or greater.Īfter selecting UTXO from Electrum's "Coins" tab, fill out the pay to tab as a one line list like so. Set up Electrumįirst figure out what channels you want to open with and what amounts. ![]() ![]() This guide tries to optimize some pre setup before interacting with LND so that you may do it quickly without worrying about rushing through the transaction creation / signing parts. #ELECTRUM LIGHTNING DOWNLOAD#If you are doing this for the first time, you may use a regtest setup like from Polar to test this out first. Download item Electrum - Lightning Photoshop Action created by profactions in the category of actions and presets add ons. NOT USING THAT FLAG ON PREV CHANNELS OR PUBLISHING TX OUTSIDE LND MAY RESULT IN LOST FUNDS This approach is command line based, using lncli, so it would be good if you were comfortable with that.Īlso, you have to do this within 10 minutes, but don't worry, no funds will be lost if you follow these steps using -no_publish on all but the last channel. Lightning Labs has a readme all about PSBT & LND, but I wanted to break down this specific batch open setup with a Coldcard and Electrum specifically. You can fund single or multiple channels using a hardware wallet or even multisig setup. Since LND 0.12 released in January 2021, we’ve had the ability to open multiple channels using a single transaction, with the added bonus that the funds do not have to be within LND itself. ![]()
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