Famed bitcoin wallet BlueWallet has postponed plans to discontinue its service related to the Lightning Network. The novelty came after a concerned repercussion from the community that still uses the service.
Last Monday (1) the Blue Wallet published that the LN servers will be active until the end of May 2023, on May 31.
So customers of the wallet service are given another deadline to withdraw funds, a deadline that should be the last before the end of time for the popular service.
Wallet asks customers to withdraw their bitcoins as soon as possible
In last Monday’s publication, BlueWallet reminded its customers that it had to permanently close its service on May 31.
With this, anyone who has wallet balances on the Lightning Network node connected to Lndhub.io will have to migrate their coins elsewhere. Taking to Twitter, the bitcoin wallet reinforced the previous statement, asking everyone to withdraw the values as soon as possible.
“WE HAVE CHANGED THE DEACTIVATION DATE OF OUR LIGHTNING NODE TO MAY 31. ONE MONTH LEFT TO ACT, IF YOU DON’T HAVE IT YET, DO IT ASAP.”
BlueWallet services for mainstream bitcoin wallets on the mainnet will continue to function normally. That’s because only the Lightning Network will no longer receive support from the company.
Understand the end of BlueWallet bitcoin wallet service with Lightning Network
In February 2023, BlueWallet published that all its customers using the wallet in Lightning Network mode should withdraw the funds as soon as possible.
Concerned, several users of the digital wallet who trusted the service started looking for solutions. Part of the community expressed frustration at the end of the service and concerns about the accessibility of the Lightning Network.
In Brazil, BitDov, one of the hosts of the Bitcoinheiros YouTube channel, calmed down the local community. According to him, the news of the end of support for LN by BlueWallet is not as bad as it seems.
According to him, many interpreted the end of the detention as bad, but forget that before the values were in the possession of BlueWallet. With the service’s departure from the market, LN users began looking for alternatives to run their own bitcoin nodes, which is a more secure and private way of using the bitcoin lightning network.
In other words, the end of BlueWallet LN, which has a few days to go, isn’t bad at all and could mark a new era of encouragement for the community to build new services, BitDov concluded.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
