Braiins, a leading mining pool in the Bitcoin industry, has made a significant stride by becoming the first mining pool to introduce Lightning payouts. This pioneering move marks a notable advancement in the integration of the Lightning Network (LN) within the mining sector.
Introducing Lightning payouts ⚡️
We are excited to be the first mining pool using the Lightning Network.
Our miners can now instantly receive rewards with no minimums or fees. pic.twitter.com/h1GSvxj78D
— Braiins (@BraiinsMining) February 21, 2024
“Our decision to integrate the Lightning Network comes from a deep understanding of the challenges and opportunities within the mining community,” stated Kristian Csepcsar, Chief of Propaganda at Braiins. “We also found from internal research with the mining community that LN was a highly requested feature; miners really love experimenting with cutting-edge technology, and in this case, Lightning could also improve their privacy by avoiding address reuse and enabling them to take advantage of all the Lightning features like lower fees and no permanent information on the blockchain.”
The Lightning Network, a second-layer solution for faster and cheaper Bitcoin transactions, has been increasingly adopted across various sectors within the Bitcoin space. By implementing Lightning payouts, Braiins aims to enhance the efficiency and speed of payments for its miners.
With Lightning payouts, miners can receive their rewards swiftly and seamlessly, avoiding the delays and congestion often associated with traditional on-chain transactions. This innovation not only benefits miners by providing them with quicker access to their earnings but also contributes to the overall scalability and usability of the Bitcoin network.
“We believe that we’ve made a step forward for Lightning adoption; the more users and bitcoiners use Lightning, the more stable and reliable the network will become,” Csepcsar continued. “As the first mining pool in history, we really love the dear old on-chain bitcoin, but we think that Lightning could really benefit miners and also improve the health of the blockchain by avoiding clogging it up with tiny payout UTXOs.”
By pioneering Lightning payouts, Braiins sets a precedent for other mining pools to follow suit, potentially catalyzing broader adoption of Lightning Network solutions across the mining industry. While the public release is expected to go live within the coming weeks, interested miners can request access to this new feature via Braiin’s support desk here.
“We are really bullish about Lightning and think we are only at the beginning,” Csepcsar said. “We’re happy to have deployed one more node to the network!”