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Lightning Network Wallet Classification

Updated over a week ago

The Bitcoin Lightning Network offers users instant transaction processing speeds and extremely low transaction fees, making micro-payments possible. With the combination of the Bitcoin Taproot upgrade and the introduction of the Taproot Assets protocol, it will enable on-chain issuance, management, and more diverse applications of assets.

However, the storage and management of crypto assets has always been a focus for OneKey.

Custodial Wallets

  • Account registration using an email address

  • Private keys are held by the wallet service provider, which poses centralization risks for assets

  • Managing multiple accounts can be cumbersome

Non-Custodial Wallets

  • No reliance on centralized services like email; accounts are generated using wallet recovery phrases

  • Users manage their own private keys, ensuring absolute security of their assets

  • Using multiple accounts is more convenient, eliminating the need for multiple email registrations and simplifying the usage process

Features of the OneKey Lightning Network Wallet

  • Generates Lightning Network accounts based on recovery phrases, allowing for the creation of unlimited accounts

  • Cross-platform solutions, providing a unified app for desktop, mobile, and browser plugins, offering users a stable and consistent experience across different scenarios

  • Built-in SWAP function in the wallet for bi-directional exchange between Bitcoin mainnet and the Lightning Network

  • Supports Nostr Assets

For instructions on using the OneKey Lightning Network wallet, please refer to: https://help.onekey.so/articles/11461182

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