Creating payment channels in Bitcoin is made easier with this new tool

Key facts:
  • Flow connects with Pool, the p2p marketplace for the purchase of payment channels.

  • Currently, the tool is in beta.

A new service seeks to facilitate access to inbound or outbound payment and liquidity channels on the Bitcoin Lightning network. This is Flow, created by Voltage, a platform that provides solutions for the use of Lightning in a simple way.

Through a post on his blog, Voltage ensures that with Flow the user is freed from configurations and maintenance of payment channels. “Just pay a small fee and get inbound or outbound capacity”, add the team behind this tool.

For the acquisition and creation of liquidity in payment channels, Flow connects with the Pool service of Lightning Labs, a p2p market in which node operators can buy and sell payment channels, profiting from liquidity.

The Voltage team believes that “one of the biggest weaknesses in using Lightning is the efficient allocation of capital.” And Flow, what is currently in beta phase, would be your answer for this situation.

With Flow, you no longer have to search for channels. You can simply request a channel of a certain size and you will get a channel […] This makes it very easy to get input and output capacity for your node.

Voltage, Bitcoin Lightning solutions platform.

Flow can also be used for the purchase of channels destined for nodes of other users. That is, through this service a person can serve as a bridge for the configuration of nodes to third parties and even “deliver channels as rewards”, says Voltage in his publication.

Users can pay for channels in Flow with bitcoin (BTC) through a transaction on the main network or through the Lightning network itself. Currently, Flow is only accessible via API, due to the beta state of the application. “We are also working on creating a web panel and some other benefits to make channel creation even easier. These will be announced at a later date, ”argued the development team on the Voltage website.

Growth and need for Lightning for bitcoin payments

Do you want to pay for minimum consumptions using bitcoin? A coffee, for example? Balance for your mobile phone? Commissions for transactions on the main chain don’t seem like the best option. That’s what Lightning is for, with low fees and much shorter processing times than sending Bitcoin. on chain.

This is probably why the BTC routing capacity available in Lightning has only grown this year. This is explained by a study by Arcane Research that we recently cited in CriptoNoticias. However, the same researchers claim that this increase in capacity is still insufficient for user demand.

In that same report, the analysis firm did a forward-looking exercise: and according to them, by the year 2030 it will be common to use Lightning to pay for music, videos or online games. Then, network capacity would exceed $ 700 million, in contrast to approximately $ 200 million that you can process today.

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