Good day Stackers. I have been hearing Splicing on amethyst. Please what's the benefit of Splicing on lightning network?
10 sats \ 1 reply \ @pillar 3 Nov 2023
Splicing allows wallets like Phoenix to show you a single balance and offering receive/send of both lightning and onchain with as small as possible fees.
Muun-like simplicity, while being non-custodial, having less fees and even more solid experience.
For node running, it provides much more flexibility for channel management. Channels can be grown and shrinked in a single transaction without need for closure.
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0 sats \ 0 replies \ @adexmakai4211 OP 4 Nov 2023
This is well understood now. Thanks for this explanation. #zap you
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10 sats \ 0 replies \ @DarthCoin 3 Nov 2023
https://bitcoinops.org/en/topics/splicing/
TLDR: if you need a bigger channel that is already open, without closing and opening a new one, now you can expand it. Fees onchain involved anyways.
Phoenix is doing this splicing quite well.
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295 sats \ 1 reply \ @deletedd 3 Nov 2023
deleted by author
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10 sats \ 0 replies \ @DarthCoin 3 Nov 2023
well said. This splicing feature is really good.
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