OneKey, the world's first hardware wallet supporting the Lightning Network and Nostr
2024 will be a decisive year for the cryptocurrency market, as the explosion of the Bitcoin ecosystem has drawn the market's attention to the Lightning Network and Nostr.Author: OneKey
What is the Lightning Network?
The Bitcoin Lightning Network is a second-layer scaling solution designed to address transaction speed and fee issues within the Bitcoin network. Due to slow confirmation times and low capacity, each transaction on the Bitcoin network requires a long time to confirm. Once the chain becomes congested, the high fees deter users. The Lightning Network allows Bitcoin transactions to be faster and cheaper. It establishes a special channel for people to transact directly, rather than using the Bitcoin main network each time. This way, most small transactions occur within this fast channel, with only the final result recorded on the Bitcoin main network. In short, the Lightning Network makes Bitcoin transactions quicker and more economical.
What is the Nostr Protocol?
The Nostr protocol is a decentralized social protocol that uses a public-private key system similar to cryptocurrencies to identify users, providing high levels of privacy and security. The Nostr public key can be seen as a username, while the private key can be viewed as a password. Users need a client software to use the Nostr protocol, which can be a web app, desktop software, or mobile app. The servers (relays) of the Nostr protocol are decentralized, so applications using the Nostr protocol do not have a single point of failure risk.
Revolutionizing Transactions: The World's First Hardware Wallet Supporting the Lightning Network
This means that OneKey allows users to transfer and receive assets using a hardware wallet on the Lightning Network, enabling users to easily trade BTC and Sats without needing to understand complex concepts like channels, invoices, or LND. The Lightning Network enhances transaction speed and scalability, providing a revolutionary solution for crypto enthusiasts.
Security and Convenience: OneKey Software Feature Support
OneKey not only innovates in hardware but also upgrades its software wallet to improve the overall user experience. So what innovations does the OneKey wallet bring this time?
Quick Creation of Lightning Network Accounts: OneKey can generate accounts through mnemonic signatures without the need for email registration, simplifying the process of creating Lightning Network accounts and enhancing user accessibility.
Unlimited Account Creation: OneKey supports the creation of unlimited on-chain accounts using a single set of mnemonics, providing unprecedented flexibility for managing crypto assets.
Cross-Platform Advantages: OneKey's Live App has seamless compatibility across various platforms, allowing one-click connections to various decentralized applications.
Support for the Nostr Protocol: OneKey is not only the first hardware wallet to support the Nostr protocol but can also be used as a Nostr Signing Device (NSD) for secure message signing within the Nostr protocol.
Ordinal Inscription Minting: OneKey has supported the Ordinals protocol and BRC20 tokens, with inscriptions minted on OneKey being directly recorded on the Bitcoin blockchain to ensure decentralization and censorship resistance.
WebLN Support: OneKey has integrated the WebLN protocol of the Lightning Network to facilitate the use of the Lightning Network, allowing users to enjoy easier transactions of BTC and Sats, lower fees, and a more user-friendly experience.
Although the Lightning Network is still in its early stages, OneKey is excited to innovate and grow alongside it! In the foreseeable future, OneKey will continue to delve into the functionalities of the Lightning Network, including but not limited to:
- OneKey hardware wallet supporting Lightning Network addresses for broader applications.
- OneKey will support the "nostr.signSchnorr" feature to help the Lightning Network and Nostr community conveniently add Nostr keys to Bitcoin wallets. OneKey is committed to providing reliable solutions for the evolving user needs of the crypto community.
At the same time, OneKey plans to open API interfaces to assist various wallets in seamlessly integrating Lightning Network accounts to promote ecosystem development.
