, a bitcoin custody provider and manufacturer of hardware nodes for lightning, bitcoin’s scaling layer, is launching a new version of its flagship device.
The new node will process transactions faster because of its larger memory unit (4 GB versus the current node’s 1 GB), better processor and new software, Casa CEO Jeremy Welch told CoinDesk.
Also, unlike the current version, the new node will have a built-in BTCPay server, a self-hosted crypto payment processor for accepting bitcoin payments, Welch said. New features are expected to make the whole experience of opening lightning channels and sending funds much smoother, he said, adding:
The new node has been about six months in the making and comes in response to a growing community of lightning users, Welch said.
This community, according to Welch, ranges “from young software engineers to older people, from doctors to students.”
Since the company started selling the lightning nodes last fall, Casa has shipped over 2,000 devices to buyers in over 65 countries, according to Welch. The firm, however, can’t see where all these nodes ended up plugging into the network.
“The beautiful thing is, we have no idea where all these nodes are," Welch said. "They are connecting via Tor – it’s all about privacy protection."
Lightning is an experimental network for faster bitcoin transactions, allowing users to open channels between each other by staking the bitcoin they want to use. Only the final settlement results – not each small transaction – are recorded onto the bitcoin blockchain.
Jeremy Welch image by Anna Baydakova for CoinDesk
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.