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Next big lightning release in the corner for ‘Watchtowers’

June 11, 2019 | Technology

Lightning network ‘Watchtowers’ have been considered as a missing piece of bitcoin’s lightning layer since long. This is because they are largely known as fraud-fighters. They make bitcoin payments faster and more scalable by squashing frauds that happen on the experimental and off-chain network.

With the release of the version 0.7 of the LND software due on an undisclosed date in June 2019, Lightning Labs is releasing the most complete build of a network watchtower until now. Usually, when someone uses lightning, it is essential for someone to keep a vigil to ensure that the counterparty is not trying to steal the funds. With watchtowers, constant vigilance is possible and no user has to remain online to check for frauds. If a bad actor in a transaction attempts to broadcast an old transaction by giving them some extra money, the watchtower immediately responds by punishing the bad actor. This anti-fraud functionality is thus performed by watchtowers so that users are free from monitoring these fraudulent activities themselves.

Head of cryptographic engineering at Lightning Labs, Conner Fromknecht is the man behind this implementation. He had earlier delivered talks on the design decisions at a virtual lightning conference back in April.

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