Amboss, a leading data analytics provider for the Bitcoin Lightning network, has unveiled its new subscription service, Amboss Hydro. It is designed to automate liquidity management for the Lightning network, allowing businesses to seamlessly receive payments through the Lightning network without requiring expertise in LN operations or giving up custody of their funds.
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Amboss Hydro is a simplified process of managing Lightning Network
By automating the sourcing of payment liquidity from decentralized sources directly to a business’s LN node, Amboss Hydro attempts to simplify the process of managing Lightning network’s payment liquidity.
As more businesses adopt the Lightning network, the growing circular economy leads to increasingly cost-effective Lightning payments, with fees dropping from an initial 3.5% setup cost to as low as 0.003% for subsequent payments.
The functionality of Hydro entails obtaining select Lightning channel leases that match quality standards at the lowest attainable prices. Users can specify the capacity of their preferred node, and channels will be automatically bought using prepaid a Amboss Hydro credits known as “ambucks.” Users can also define a target inbound liquidity level, allowing for cost-effective and needs-based channel management.
Yield generation on Lightning is a difficult process, but the data analytics firm claims their new Lightning Network Rate streamlines the process by offering vital insights into network yield prospects.
Lightning is a second-layer payment network for cheaper and faster Bitcoin transactions that requires users to first commit bitcoin to a payment channel to acquire liquidity (the ability to send and receive payments).
Why Do We Need Hydro?
Obtaining liquidity for firms on the LN has been a difficult task since entrepreneurs generally lack the time and skills required to run an LN node. As a result, retailers utilizing full nodes have been sluggish to adopt Lightning, often forcing them to rely on trusted custodians, compromising some of the privacy and sovereignty benefits given by Bitcoin and Lightning .
Now businesses may finally reap the full benefits of LN adoption without the related headaches thanks to Hydro.
Frequently Asked Questions – FAQ
What is Amboss Hydro?
Amboss Hydro is a new subscription service from Amboss that automates liquidity management for businesses using the Lightning Network. It simplifies the process of managing Lightning Network’s payment liquidity, allowing businesses to seamlessly receive payments without needing expertise in LN operations or giving up custody of their funds.
How does Amboss Hydro work?
Amboss Hydro automates the sourcing of payment liquidity from decentralized sources directly to a business’s LN node by obtaining select Lightning channel leases. Users specify their preferred node capacity and target inbound liquidity level, and channels are automatically bought using prepaid Amboss Hydro credits known as “ambucks.” This allows for cost-effective and needs-based channel management.
What is Lightning Network?
Lightning Network is a second-layer payment network for bitcoin that enables faster and cheaper transactions. It involves committing bitcoin to a payment channel to acquire liquidity for sending and receiving payments.
Why do businesses need Amboss Hydro?
Obtaining liquidity for businesses on the Lightning Network has been a difficult and time-consuming process, hindering widespread adoption. Amboss Hydro streamlines this process by providing businesses with automated liquidity management, allowing them to reap the full benefits of LN adoption without the associated headaches.
How does Amboss Hydro benefit businesses?
Amboss Hydro allows businesses to seamlessly receive Lightning Network payments without needing expertise in LN operations or giving up custody of their funds. It also offers vital insights into network yield prospects, making yield generation on the Lightning Network a simpler process.