Exciting news from ACINQ!
"Introducing the new Phoenix, a 3rd generation self-custodial Lightning wallet.
Splicing changes the game: single dynamic channel, no more 1% fee on inbound liquidity, better predictability and control, trustless swaps."
https://acinq.co/blog/phoenix-splicing-update
#Bitcoin #LightningNetwork
Splicing is going to be a game changer for Lightning. Props to Acinq for that here.
The only reason we are showing on chain and lightning balances as two different numbers comes from all the hurdles and edge cases that exist with trying to unify them today.
We will unify balances when we can do it properly with Splicing 🤙
It sounds like this is what Muun wallet does, except they actually use the #Lightning network and not submarine swaps
The best wallet is yet to be made with this tech though.
The best wallet will combine a whirlpool-to-channel / vortex with something like greenlight to run individual nodes (with different pubkeys) for each post mix utxo/channel, and splice out for any on chain transactions you're making.
Considering whirlpool has over 9000 BTC, privacy would also an incredible incentive to build the LN out.
Essentially between 10-40BTC in mix fee profit for any developer who can make this product first to market also. When will we see it?
Splicing and collaborative transactions will be huge potential.
