Phoenix Wallet has supported BOLT12 since July 2024, but…
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Phoenix Wallet has supported BOLT12 since July 2024, but with some limitations. Integration is available on Android (and planned for iOS), enabling reusable and more private payments. However, compatibility with some services like OCEAN payouts remains partial.
1. Wallet Setup
Phoenix Wallet, developed by ACINQ, introduced a simple and intuitive interface from the outset. When creating a wallet, users can immediately test the application's responsiveness by adding a few satoshis. For example, a user who added 3,000 satoshis was able to observe the speed of Lightning Channel management. This step is crucial for understanding Phoenix's logic, which automates channel creation and management to simplify the user experience.
2. Channel Creation Fees
Historically, Phoenix charged relatively high fees for opening a Lightning Channel. In the example cited, 1600 satoshis were deducted from the initial 3000, leaving 1250 satoshis available. Today, these fees have been significantly reduced, to around 250 satoshis, making it much more advantageous for smaller amounts. This decrease reflects the evolution of the Lightning ecosystem and the optimization of channel management costs.
3. Compatibility and Summary
Phoenix Wallet now supports BOLT12, offering reusable payments, anonymized through blind paths, and improved usability (no need to generate a new QR code for each transaction). However, there are still compatibility limitations, particularly with Electrum (which does not recognize the Phoenix seed) and some services like OCEAN payouts where integration is not yet complete. In summary: Phoenix is a modern, simplified wallet that is now compatible with BOLT12, but some technical hurdles remain for full interoperability.
1. Wallet Setup
Phoenix Wallet, developed by ACINQ, introduced a simple and intuitive interface from the outset. When creating a wallet, users can immediately test the application's responsiveness by adding a few satoshis. For example, a user who added 3,000 satoshis was able to observe the speed of Lightning Channel management. This step is crucial for understanding Phoenix's logic, which automates channel creation and management to simplify the user experience.
2. Channel Creation Fees
Historically, Phoenix charged relatively high fees for opening a Lightning Channel. In the example cited, 1600 satoshis were deducted from the initial 3000, leaving 1250 satoshis available. Today, these fees have been significantly reduced, to around 250 satoshis, making it much more advantageous for smaller amounts. This decrease reflects the evolution of the Lightning ecosystem and the optimization of channel management costs.
3. Compatibility and Summary
Phoenix Wallet now supports BOLT12, offering reusable payments, anonymized through blind paths, and improved usability (no need to generate a new QR code for each transaction). However, there are still compatibility limitations, particularly with Electrum (which does not recognize the Phoenix seed) and some services like OCEAN payouts where integration is not yet complete. In summary: Phoenix is a modern, simplified wallet that is now compatible with BOLT12, but some technical hurdles remain for full interoperability.
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