Home Business BlueWallet-Bitcoin node shuts down: Users are urged to withdraw funds

BlueWallet-Bitcoin node shuts down: Users are urged to withdraw funds

BlueWallet-Bitcoin node shuts down: Users are urged to withdraw funds

BlueWallet has announced in an official statement that it will disconnect from Lndhub, the Lightning node. This means that BlueWallet will no longer perform lightning operations and users of the Bitcoin Lightning Network will have to switch to other nodes to continue using BlueWallet’s services.

Popular Lightning Network

The Lightning Network is a layer-2 payment solution built on Bitcoin (BTC). The Lightning Network is used to transfer small amounts of Bitcoin called satoshis or sats, often using a lightning wallet.

With over 42 BTC ($1 million) in liquidity, BlueWallet is a widely used wallet on the Lightning Network. According to Amboss data, BlueWallet’s largest channel has a capacity of 4 BTC ($95,000). Many well-known Bitcoiners often recommend BlueWallet as a popular lightning network. Calle further emphasized:

It is important to understand that Lndhub is a protocol that helps link wallets to accounts. BlueWallet is the wallet currently being discussed, but other wallets, such as Alby or Zeus, also support Lndhub.

Promoting decentralized solutions and self-preservation

Simply put, BlueWallet’s account with Lndhub will simply be closed, not BlueWallet or Lndhub itself. While users can still withdraw their sats, it is no longer possible to create new or top up existing lightning wallets on the LndHub node. BlueWallet has publicly stated that users with sats connected to BlueWallet’s lightning node should move them ASAP.

The service will be permanently discontinued on April 30. So it is necessary for BlueWallet users to withdraw or move their sats to another service before then. Regular BTC wallets are not affected by this new change.

While some may see the change as negative for adoption of the Lightning Network, it’s important to note that BlueWallet states on their website that they “only support self-custody solutions.” The change is intended to promote decentralized solutions and self-preservation.

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