The New Phoenix Lightning Wallet Beta Reimagines The Self-Custodial Experience
By BtcCasey         

Acinq's Lightning wallet, Phoenix, has introduced splicing technology, leading to significant enhancements in efficiency and user experience. Unlike previous versions, which created multiple channels with unpredictable fees, the new Phoenix operates with a single dynamic channel, eliminating liquidity scattering and splitting issues. Splicing enables users to resize channels without adding future risk, replacing the previous 1% fee on inbound liquidity with the mining fee for the underlying on-chain transaction. Acinq expressed confidence that splicing's efficiency gains would encourage other wallets to implement this technology.

Phoenix's updated version addresses user concerns about unexpected channel creation fees by providing advance notifications for incoming Lightning payments incurring channel management fees. Additionally, the fee for sending Lightning payments is now a fixed 0.4%, offering transparency and aligning incentives between users and the wallet provider. Trustless swaps are another noteworthy feature, enabling users to conduct on-chain transactions directly from their channels and set their own feerate for greater flexibility. While splicing provides numerous benefits, external swap services remain advantageous for specific transactions as they maintain channel size and add inbound liquidity.

The new Phoenix wallet represents a significant milestone in self-custodial wallet development, featuring splicing, improved predictability, and trustless swaps. Acinq also hinted at upcoming advancements, including blinded paths for enhanced privacy, BOLT 12/Offers for static Lightning invoices, and Taproot for more cost-effective channel management and improved on-chain privacy.

The beta version of the new Phoenix is currently accessible to Android users, with an iOS release expected in the following weeks. Interested individuals can apply for the beta by contacting phoenix@acinq.co.

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⛓️ Unchained Signature

Unchained Announces New Signature Private Client Service
By BtcCasey

Unchained, a Bitcoin custodial services company, has introduced its private client service called "Unchained Signature," targeting high-net-worth individuals, institutions, and corporations seeking to invest in and manage Bitcoin. The platform offers a membership-based service with collaborative custody, providing clients with a premium banking-like experience and multi-signature custodial models.

One key feature of Unchained Signature is that clients retain control of their Bitcoin keys, even when using their Bitcoin as collateral for loans. This ensures that Unchained cannot unilaterally move or rehypothecate client funds, addressing concerns seen in the collapse of other cryptocurrency firms.

The service includes dedicated account management features such as private trade execution, multi-million dollar loans, and retirement and estate planning. Technical support is also provided, with advisors available for in-person assistance during emergencies. Signature clients gain early access to Unchained's latest products and exclusive networking events.

Joe Kelly, co-founder and CEO of Unchained, highlighted the opportunity to attract new high-net-worth individuals and institutions to Bitcoin, who may have been deterred by technical barriers and third-party risks. Unchained Signature aims to address these concerns by offering comprehensive technical and logistical assistance while prioritizing security.

As the best-performing asset of the past decade, Bitcoin continues to attract interest from various investor segments. Unchained's new private client service positions itself as a trusted partner for high-net-worth individuals and institutions seeking to navigate the Bitcoin market securely and effectively.

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By @BitcoinMagazine

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