Blockchain Developer Suggests Price Cards for Bitcoin Lightning Fee

Blockchain Developer Suggests Price Cards for Bitcoin Lightning Fee

Developer Lisa Neigut, better known as Niftyshe has Spread A new proposal to allow Bitcoin Lightning Network nodes to advertise tiered rates for redirect fees. Its proposal will enable operators to broadcast Lightning node fees using four standard tiers based on the capabilities of their nodes.

Node operators can charge a relatively higher rate for channels that leave an outbound capacity buffer to transfer future transactions. Suggestion or offer It is suggested to put four layers Based on the percentage of capacity that is left open for future transactions. Neigut suggests default levels at 0-25%, 26-50%, 51-75%, and 76-100%; Four 16-bit integers are suggested to represent these percentage ranges.

It stated that official rate cards could also allow negative fee rates for some levels. The current system of broadcast fees through the so-called “gossip” text messaging system does not make it easy to identify negative fees.

In the proposal, Neigut suggested that contract operators actually adjust their fees based on their channel capacity. The developer said that the four-tier price tags can save A more effective way to broadcast their intentions from using the Lightning Network gossip messages.

Read more: Bitcoin developer has a fix for Lightning’s existential problem – offline payments

Of course, allow negative fee rates Elimination of payment base fees. It can also provide incentives to increase the internal capacity of frequently used channels.

Neigut credits Clara Shikleman for initially suggesting negative fees as well as ZmnSCPxj’s comments on the variation in the liquidity value of the Lightning Channel.

Feedback on Neigut’s Lightning node fee proposal

Someone on the Lightning-Dev mailing list Requested How users can estimate fees when opening the Lightning Network channel without using a third-party service to collect that information.

One mailing list member known as ZmnSCPxj replied, “The sender optimistically tries a route at a certain fee rate and, if that fails, tries another route.”

“If the route fails at the lowest cost, just try another route that may have more hops but a lower effective cost, or try the same channel at a higher cost.”

An influential Galaxy Bitcoin analyst has praised Neigut’s proposal for Lightning fees.

Few reactions to Twitter’s tiered price tag proposal It was mostly positive. Gigi, a Bitcoin mining analyst at Galaxy Digital, described it as an excellent way to rebalance channels and lower fees.

Who is Lisa Nygot?

Lisa Nygot join Blockstream as a Software Engineer in 2018. Her previous experience includes a position as a Software Engineer at Square and Android Developer for Etsy. she Influential developer of Bitcoin and Lightning Network.

Its projects include development The “Prometheus” plug-in, which can send data from c-Lightning nodes to Prometheus to generate graphs of nodes statistics.

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