Bitfinex implemented support for larger bitcoin translations via Lightning Network


The Bitfinex crypto exchange today announced the addition of "wider" payment channels on the Lightning Network for bitcoin deposits.

In the initial phase, Bitfinex has launched three Wumbo-channels to avoid restrictions on the amount of deposits established in Lightning Network. The bandwidth limit for each channel was set at 5 BTC. Bitfinex claims that these are currently the largest channels in the Lightning Network.

"Bitfinex sees huge potential in larger channels, so we are adding support for Wumbo channels to Bitfinex Lightning nodes," writes the exchange. - This will allow our users to deposit and withdraw larger amounts in Bitcoin, quickly and cheaply, so they can take advantage of trading opportunities.

Since Lightning Network is still a pilot project, the developers initially set a limit of 0.1677 BTC for the payment channel. This is how they expected to avoid large losses for users in case of bug detection. Over time, the need for such limits began to disappear, which led to the launch of Wumbo-channels.

Bitfinex also notes that this step will allow payment and other services to develop opportunities for making payments in bitcoin. Thanks to larger channels, they will be able to reduce fees and avoid the need to open many small channels.

"With this feature, ordinary users will be able to open channels with up to two bitcoins, and a number of retail services and purse suppliers, including Bitrefill, Lightning Markets and Lightning Labs, will be able to open up to five bitcoins," adds Bitfinex.

Originally, Lightning Network support on Bitfinex appeared in December last year.


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