Relai Integrates Lightning With Help of Breez SDK And Greenlight
Relai, a European non-custodial Bitcoin wallet with broker services incorporated in the app, is announcing their integration of Lightning functionality today at the Plan B conference in Lugano. Lightning support will ini...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Relai, a European non-custodial Bitcoin wallet with broker services incorporated in the app, is announcing their integration of Lightning functionality today at the Plan B conference in Lugano. Lightning support will initially roll out as a closed invite-only beta program, slowly rolling out to full public access before the end of the year Q4 2023. Starting early 2024, Relai will expand the integration to direct purchases through their broker service directly into their Lightning wallets.
This integration comes through a partnership with Breez, one of the earliest self custodial Lightning wallets still in operation today, making use of the Breez Software Development Kit (SDK). The SDK will allow Relai to seamlessly integrate Lightning functionality for their users while relying on Blockstream’s recently launched Greenlight service to handle all of the backend functionality for users. Greenlight runs the majority of the node software in the cloud for users, while still keeping the private key used to control funds and authorize updates to users’ channels on their own device. This allows for a seamless and quick user experience, while still maintaining a self custodial arrangement where Greenlight is incapable of altering the state of a user’s Lightning channel without their involvement.
The Breez SDK and Greenlight will ensure that the entire Lightning experience for Relai users is not only self custodial, but removed a step from Relai. Greenlight will give users access to multiple LSPs as channel peers, giving them optionality in a marketplace to find the best fees or network connections to optimize for their use cases and budgets. It also guarantees that aside from purchases deposited directly into their Lightning wallet by Relai, the company will have no insight into users' activity on the Lightning Network because of their lack of involvement in running the actual LSP infrastructure a user is connected to.
Adem Bilican, Co-Founder and CTO of Relai says of the collaboration, "Our collaboration with Breez fortifies our position at the forefront of the Bitcoin revolution in Europe. By integrating the Bitcoin Lightning Wallet, we are not only enhancing the user experience but also propelling Bitcoin's adoption as a daily transactional currency."
Roy Sheinfeld, Breez Co-Founder and CEO, says in this regard, "Working with a forward-thinking partner like Relai has been a delightful journey. We are united by the vision of making Bitcoin and Lightning easily and securely accessible to as many people as possible."
This partnership will bring the full package to European Bitcoin users, self custody on-chain, on and off ramps, and Lightning payment support all bundled together into one application all without compromising on the principles of self custody. Keep your eyes peeled for the integration to come out of beta in the coming months.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
Solana Perps Exchange Drift Opens Recovery Token Claims for Users Who Lost Over $290 Million
The Drift Foundation opened claims and redemptions on Thursday for DFX, a Solana token issued to users of the perpetuals exchange...
Ethereum Foundation launches zkAPI to let users pay for AI models without revealing identity
Users deposit funds into an Ethereum vault and authorize spending with zero-knowledge proofs, so the API provider can't link reque...
Electrum patches Lightning flaw, but old Bitcoin backups break
Electrum’s latest security update fixes a Lightning backup defect, but some Bitcoin wallet users still need to replace saved backu...
European crypto users have ‘more faith’ in regulated firms under MiCA: Bitpanda co-CEO
Speaking on Cointelegraph’s Chain Reaction, Christian Trummer said MiCA has increased trust in regulated platforms and called for...
MetaMask Exits Ethereum Validators After Security Incident Hits Staking Infrastructure
Key Takeaways: MetaMask is addressing a security incident to its infrastructure of which it is unaware. According to the company,...
Phantom wallet adds native BNB Chain support for in-app trading
Phantom's BNB Chain integration enhances user convenience and accessibility, potentially increasing BSC adoption while raising tra...