New LND client version lifts transfer limit on the Lightning Network

Lightning Labs has unveiled a beta version of the LND client v0.11, enabling larger Bitcoin transactions on the Lightning Network’s second layer.

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Let’s get ready to Wumbo! Today we’re releasing lnd 0.11-beta with lifted channel limits.

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With Wumbo, users can send larger #bitcoin transactions on Lightning, opening up new use cases and improving capital efficiency.

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Upgrade today and set it to Wumbo:https://t.co/XYiogrLjBx pic.twitter.com/dWFJDvtSMj

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— Lightning Labs⚡️ (@lightning) August 20, 2020

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The update supports so-called Wumbo channels. The name is a nod to the SpongeBob SquarePants episode and means ‘big’.

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For safety, LND limits throughput to 0.1677 BTC. With version v0.11, LND users gained the ability to ‘handle larger transactions and higher volumes’.

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Using Wumbo will also reduce the fees and overhead required to open and manage a larger number of channels, Lightning Labs said.

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Developers reminded that Lightning wallets are ‘hot’ and exposed to numerous risks. They recommended exercising caution to reduce risks whenever possible.

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As a security measure, Lightning Labs recommended the Channel Acceptor feature, which allows node operators to set channel-size limits that match use case and risk profile.

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Earlier in July, the non-profit WikiLeaks added support for Bitcoin payments via the Lightning Network in its store.

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