About LN+
Lightning Network Plus (LN+) is a complimentary web application designed to facilitate collaboration among Bitcoin Lightning Network node operators. With LN+, users can effortlessly discover and connect with one another, establish liquidity for their nodes, and enhance the security of their configurations. Additionally, LN+ also features a marketplace where visitors can find stores that accept Lightning payments or actively serve the Lightning Network, and an educational resource known as the Layers Academy.
LN+'s 6 main services are explained below:
- Liquidity Swaps
- Liquidity Pool
- Watch Swaps
- Node Explorer
- Lightning Market
- Direct Messages
- Layers Academy
In addition, learn about our Membership and the benefits it offers.
Liquidity Swaps
The Challenge
When someone establishes a Bitcoin Lightning Network node, they can open channels to other nodes, creating outgoing liquidity that enables them to spend SATs. However, to receive bitcoins via Lightning, they must first spend some bitcoins from their newly opened channels. To receive bitcoins on the Lightning Network, they need another node to open a channel to them with incoming capacity, allowing for funds reception. Moreover, to route SATs and earn routing fees, nodes require ample incoming and outgoing capacity.
The Answer
LN+ enables users to collaborate and establish liquidity swaps (also known as Rings of Fire). The app guides users through each step, simplifying the process. As a result, users gain incoming liquidity and can double their channel count and capacity without incurring additional costs.
In more detail, LN+ assists node operators in collectively opening channels with one another. Groups of 3 to 5 users connect in a circular arrangement, ensuring that each participant has incoming and outgoing capacity with every other member by opening just a single channel, without duplicated channels between them.
LN+ also offers the option to find partners interested in opening dual-funded channels using the BOS tool for LND nodes, allowing two users to create a single, balanced channel with twice the size. With more channels and capacity, users can increase routing fees earned and ensure their nodes remain highly reliable for both sending and receiving payments.
In addition, LN+ also offers the option to find partners interested in taking part in so called group channel opens, also using the BOS tool for LND nodes. This setup allows 3 to 5 users open multiple channels with a single transaction saving significant costs and block space.
In general, liquidity swaps help people worldwide to easily onboard to the Lightning Network, enhancing its decentralization, robustness, and reliability while reducing dependence on a few large nodes for connectivity.
Liquidity Pool
The Challenge
Establishing a Bitcoin Lightning Network node allows one to open channels with other nodes, creating outgoing liquidity that facilitates spending SATs. But to receive bitcoins via the Lightning Network, they first need to spend some bitcoins from their newly opened channels. To receive funds, it's necessary for another node to open a channel towards them with incoming capacity. Furthermore, for a node to route SATs and earn routing fees, it needs a balance of both incoming and outgoing capacity.
The Answer
LN+'s lightning pool enables users to open channels with each other in a controlled, equitable, and mutually beneficial manner. For every channel opened through the pool, the node operator receives channel(s) with an equal amount of SATs in incoming liquidity. As a node operator, you can choose both who you want to open a channel to and from whom you'd like to receive a channel.
The liquidity pool consists of nodes capable of receiving incoming liquidity and, in return, offering liquidity credits. A node operator initiates so called credit transactions towards another node to indicate their willingness to exchange a new channel for liquidity credits. One does not have to have liquidity credits to start a credit transaction, one earns credits through it. Each credit transaction has a size (min. 100K SAT) and a fixed 50 days duration for the channel to stay open to satisfy the agreement.
Glossary of Important Terms
Liquidity pool: A database consisting of nodes that can receive incoming liquidity. By opening channels with these nodes, you earn liquidity credits and can add your node to the pool.
Liquidity pool node: A node within the liquidity pool holding credits that can be swapped for incoming liquidity.
Credit transaction: This refers to an agreement between two lightning node operators. It's of a certain specified size (min. 100K SAT) and always lasts for 50 days. Node operators initiate these transactions to show their intent to open a channel. The receiving node can accept or decline this. If accepted, the initiating node opens the channel and earns liquidity credits for the duration the channel remains open, while the receiving node spends credits in the same proportion.
Liquidity pool credits: Also called just "credits" are an integral part of LN+, helping track who is owed what amount of incoming liquidity. They are neither tokens nor coins and cannot be traded. You can only exchange your liquidity credits for incoming liquidity on LN+.
Purchased liquidity credits: Node operators (ex. merchants) in need of a significant amount of incoming liquidity can purchase LN+ liquidity pool credits from LN+ to enter the liquidity pool, and subsequently receive incoming channels to bootstrap their nodes. The price of purchased liquidity credits is determined by LN+ based on market conditions with the intention to ensure there is always enough liquidity credits available in the pool to keep the pool functional. The price is subject to change.
Earned and spent credits: Represents credits you've earned or used by creating channels with nodes in the liquidity pool. A detailed breakdown is available on your node profile.
Offered credits: Total size of all credit transactions requested between nodes in credit transactions that have not been yet approved or declined.
Pending confirmation credits: Total size of approved credit transactions awaiting channel opening transactions by the node operator and confirmation by LN+'s system.
Total confirmed credits: Total size of credit transactions with an associated confirmed channel. These transactions allow initiators to earn and receivers to spend credits.
Pending in confirmed credits: Credits within confirmed transactions that haven't yet moved from the receiver to the initiator. These will transfer gradually as the 50-day channel duration concludes.
Successfully earned or spent credits: Credits from confirmed transactions that have moved from the receiver to the initiator and can now be used for new credit transactions by the initiator.
Failed to earn or spend credits: Credits within transactions that didn't transfer due to channel closure before the end of the 50-day period.
Watch Swaps
The Challenge
Without a watchtower, if your node is offline for an extended period, a channel partner might attempt a malicious channel closure by force-closing the channel with an outdated, more favorable state (with funds on their side). If your node remains offline beyond the channel closure time lock (ranging from 1 day to 2 weeks depending on settings), you won't be able to contest this malicious closure, potentially receiving fewer on-chain funds than you should in a fair channel closure.
The Answer
LN+ enables users to collaborate and create watchtower swaps (watch swaps). The app guides users through each step, simplifying the process. Your node will be protected from malicious actors even when offline, at no cost to you, while you protect another node of similar size in return.
With a watchtower client implemented, the watchtower service can contest malicious channel closures on your behalf even if you're offline. Moreover, as per Lightning Network rules, the attacker will be penalized by transferring all channel funds to you, making a successful defense profitable.
It's essential to note that a watchtower service cannot misuse information or steal your funds. They can only issue a punish transaction in case of a breach, with funds directed to you.
In general, having watchtowers running on many nodes protects all nodes through game theory. Potential attackers won't know which nodes have watchtowers or how many, increasing the risk and cost of attacks on offline nodes. These offline nodes can act as honeypots, attracting attackers and then seizing the attacker's funds through punish transactions.
Running a watchtower service requires resources, as your node will receive encrypted versions of the latest channel states from the watched node and monitor the blockchain for malicious transactions.
Since operating a watchtower service consumes resources, avoid publicly sharing your or your watch swap partner's service address, preventing unauthorized connections to the service.
Before participating in watch swaps on LN+, familiarize yourself with watchtowers, watchtower service setup, and watchtower clients. Consult resources such as LND watchtower or The Eye of Satoshi service for CLN. If you're running an Umbrel , the Advanced Settings in your Lightning app contain your watchtower settings.
Node Explorer
The Challenge
With tens of thousands of Bitcoin Lightning Network nodes operated by various entities, it can be challenging to keep track of them, find the right one to connect to, and learn more about them.
The Answer
LN+'s Bitcoin Lightning Network Node Explorer enables you to browse and search for publicly visible nodes on the network. When users claim their node profiles, you can access information shared by the node operator, such as their Twitter handle, website URL, public posts, swaps, and more.
As a node operator on LN+, you can also promote your node profile to enhance visibility, allowing other node operators to discover your node and establish incoming channels.
Node Ranks
LN+ has also introduced the concept of Node Ranking to help quickly assess the connectedness and utility level of a node within the Lightning Network. In general, the higher the rank of a node, the more useful it is for another node to connect to it. Node levels can be compared to Google's PageRank, which is also a ranking between 0 and 10. Node Rank is calculated predominantly based on the capacity of nodes a given node is connected to. Node Rankings are also named after metals:
- Aluminium
- Iron
- Copper
- Mercury
- Titanium
- Tungsten
- Silver
- Gold
- Platinum
- Iridium
Lightning Market
The Challenge
To establish a circular economy based on Bitcoin as a currency and the Lightning Network as a payment rail, people need to earn SATs and spend them on goods and services they require. Bitcoin and the Lightning Network also depend on various services to grow and thrive. However, finding reliable and particularly small businesses can be challenging.
The Answer
The LN+ Lightning Market is a platform where individuals can promote their goods and services. Users who have experienced the services or purchased goods can rate the providers and post comments. This way, the Lightning Market becomes a hub for discovering reliable and trustworthy Lightning-enabled businesses.
Direct Messages
The Challenge
Contacting Bitcoin Lightning Network node operators can be challenging due to their anonymity or pseudonymity and lack of official contact information. Although LN+ node profiles may include a Twitter link, direct messaging may still be unavailable.
The Answer
LN+ offers a messaging function between node operators. To send a message to a node operator, simply click the "Message" button on their node profile. Messages can be read online on LN+, and if the recipient has email notifications enabled on their profile, they will also be notified of new incoming messages.
The Layers Academy of Bitcoin Finance
The Challenge
Bitcoin, the Lightning Network, and other second-layer solutions form a complex system with many intricate parts. This ecosystem presents significant opportunities for those with a functional understanding. However, comprehending its workings, setting up a node, and effectively utilizing these systems can be challenging.
The Answer
LN+ introduces a comprehensive educational resource known as the The Layers Academy of Bitcoin Finance. Commonly referred to as the Layers Academy, it is structured into faculties, each comprising several courses. Within these courses are lessons that include short videos, optional file attachments, and other text-based resources, simplifying complex subjects for easy comprehension. Each lesson is accompanied by quizzes, allowing students to test their knowledge. On successfully passing all quizzes in a course with the required score threshold, students are awarded the Proof of Work Certificate featuring a Golden Hammer, symbolizing their accomplishment and mastery in the subject.