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BlueWallet's bitcoin wallet service provider decided to close lndhub.io, a Lightning network node on the Bitcoin network used to store and exchange satoshi (sats) – the smallest name of the main cryptocurrency.
The Lightning Network is a layer-2 protocol layered on the Bitcoin protocol, used to process micropayments among participating nodes to facilitate faster transactions. Bluewallet is one of the most popular Bitcoin portfolios in the marketplace.
Lndhub Blue Wallet Farm.io
According to a blog post, BlueWallet disclosed that although users can still withdraw their sats, creating new or refilling existing wallets on the LndHub node would be impossible. Funds must be moved prior to complete service closure on April 30, 2023.
The portfolio supplier revealed that it began lndhub as a "weekend experience" on the lightning grid. However, due to the emergence of many services offering more scalable solutions, bluewallet decided to terminate the experience as it fulfilled its objective.
Bluewallet also noted that self-hosted Indhub solutions would continue to operate and be supported by the portfolio for interested people and entities. Those individuals might connect their own lndhub from bluewallet or other programs that support the lndhub api specification. It should be noted that the BTCs portfolios of the regulatory agencies are not affected by the change.
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In addition, BlueWallet stated that while development may seem like bad news, this is how the platform supports self-sufficiency solutions, which is good for Bitcoiners.
Speaking to Cointelegraph, Calle, a Lightning Developer who tweeted about the update, said:
The account closes, rather than LndHub or Bluewallet itself. The account here is hosted by the team of bluewallet and they no longer want to do it. The most important thing is that people don't panic and all of a sudden the noobs are taking their money out of the chain or their balances out of whack."
