Bitfinex has implemented support for larger bitcoin transfers via the Lightning Network
Initially Bitfinex launched three Wumbo channels to avoid limits on the amount of deposits set in the Lightning Network. Limit bandwidth of each channel was set to 5 BTC. Bitfinex claims to be the largest channels in the Lightning Network to date.
“Bitfinex sees huge potential in larger channels, so we are adding support Wumbo Channels in Lightning-nodes Bitfinex, – writes stock exchange. – it will allow our users to deposit and withdraw larger amounts in bitcoin, quickly and cheaply, thanks to what they can take advantage of advantages trade opportunities “.
Since the Lightning Network everything yet is an experimental project, developers initially set a limit of 0.1677 BTC for the payment channel. So they are hoped to avoid major losses from users when detecting bug. Co time the need for such restrictions began to disappear that led to launch Wumbo channels.
Bitfinex also notes that this move will allow payment and other services to develop opportunities for making payments in bitcoin. With larger channels, they can lower commissions and avoid the need for opening many small channels.
“With the support of this feature, ordinary users will be able to open channels with bandwidth up to two bitcoins, and a number of retail services and wallet providers, including Bitrefill, Lightning Markets and Lightning Labs – up to five bitcoins,” adds Bitfinex.
Bitfinex’s Lightning Network support originally appeared last December of the year.