Eclair, a popular Lightning Network node software, has rolled out its highly anticipated v0.11.0 update, introducing a host of features designed to improve usability, scalability, and efficiency for Bitcoin’s Layer 2 solutions. With a focus on protocol advancements and user-centric tools, this release represents a significant step forward for Lightning Network infrastructure.
Bolt 12 Support
One of the most significant updates in this release is the full support for Bolt 12, the newly accepted standard for Lightning Network offers. Bolt 12 allows users to create reusable, privacy-focused invoices, streamlining the process of sending and receiving payments. Eclair’s support ensures compatibility with this feature, keeping the implementation ahead of the curve in terms of usability and interoperability. Users can start leveraging Bolt 12 using the newly introduced “payoffer” API.
Eclair v0.11.0 is out ⚡️🚀
This release contains:
– official support for Bolt 12
– splicing prototype for private channels
– liquidity ads prototype
– on-the-fly funding prototype
– update to bitcoind 27.2
– and many more goodiesSee https://t.co/bvHDcZ5XGY for more details.
— ACINQ (@acinq_co) December 4, 2024
Advanced Liquidity Management
Liquidity challenges have long been a barrier to adoption on the Lightning Network. To address this, Eclair v0.11.0 introduces experimental features that promise more dynamic and efficient liquidity management:
- Splicing: Enhancements include quiescence and Replace-by-Fee (RBF) support, allowing users to resize channel balances without disrupting active payment flows. While still experimental, splicing shows promise for smoother liquidity adjustments.
- Liquidity Ads: A prototype feature enabling nodes to advertise liquidity rates, making it easier to connect buyers and sellers of liquidity in a decentralized manner. Although disabled by default, this feature represents a move toward trustless liquidity markets.
- On-the-Fly Funding: Designed to mitigate payment failures due to insufficient inbound liquidity, this feature enables nodes to negotiate liquidity purchases dynamically. This innovation is particularly useful for Lightning Service Providers (LSPs) catering to mobile wallets.
Channel Updates and Protocol Modernization
Eclair’s v0.11.0 release mandates the use of anchor output-supported channels, deprecating older static_remote_key channels. This change reflects a broader industry shift toward enhanced security and functionality in channel operations. Existing static_remote_key channels will remain functional, but new ones will not be accepted unless explicitly configured.
Additionally, Eclair now requires Bitcoin Core v27.2 or higher, introducing the CoinGrinder algorithm to optimize on-chain transaction costs during high-fee conditions.
Eclair Experimental Features
Several new features remain in the experimental phase, requiring caution from users:
- Channel Jamming Mitigations: Eclair has adopted bLIP 4 to relay “endorsement” fields in payments, enabling initial experiments with reputation-based defenses against channel jamming attacks.
- Splicing for Public Channels: While splicing works on unannounced channels, public channel support is pending collaboration with other implementations.
- Liquidity Ads and On-the-Fly Funding: Both features are promising but are not yet recommended for production use. Operators are advised to test these capabilities on testnets before deploying them on mainnet.
These updates mark a step forward in streamlining payments and optimizing liquidity on the Lightning Network, appealing to operators seeking decentralized finance solutions. Node operators should assess their setups before adopting experimental features.