The brand new model of Electrum pockets, 4.5, consists of very helpful performance for many who use it to make transactions on the Lightning community. Electrum now means that you can ship the proceeds of a transaction to a Lightning channel with a single operation.
When making a transaction in Bitcoin, there are often “returns” that the issuer receives of their pockets routinely, generally with out realizing it. For instance, if you need to ship 0.5 bitcoins (BTC) and use two UTXOs (unspent transactions) of 0.3 BTC every, you’ll obtain 0.1 BTC leftover by way of a return transaction.
With the brand new Electrum characteristic, the person can select to ship that «poisonous change» or “poisonous change” to a Lightning channel with out executing an additional transaction. Thus, you save the price of finishing up an on-chain transaction to fund the channel, which can then assist you to make immediate and low-cost funds, as allowed by the Lightning community.
To supply its new operate, Electrum makes use of submarine swaps. And submarine swap is a method used on the Lightning community to carry out atomic swaps between on-chain and off-chain transactions, to maneuver funds from the Bitcoin foremost chain to the Lightning community and vice versa.
Different new options in Electrum
The newest Electrum replace, model 4.5.3, additionally brings a collection of adjustments that search to facilitate the person expertise when storing and managing their BTC with this pockets. Among the many most notable options is the brand new presentation of transaction sizes as “vbytes” and charges as “sat/vbyte”, for higher readability when interacting with transactions.
Model 4.5.3 additionally addresses earlier points, resembling a regression within the wizard that prevented using {hardware} wallets as cosigners for brand spanking new wallets. As well as, the detection of invoices paid on-chain was improved.
On the UI entrance, the desktop model introduces important “add server as bookmark” performance, to additional simplify server administration for customers. As well as, UI fixes have been made to each the desktop and Android variations, primarily on problems with accessibility and stability of the appliance.
Lastly, {hardware} pockets customers, particularly these of Trezor, will profit from the addition of help for SLIP-19 proof of possession in Standard_Wallets wallets. This enchancment, together with a repair for a transaction signing regression for Trezor One in multi-signature wallets, strengthens the safety and flexibility of Electrum.
