Custodial Lightning has clearly achieved product market fit. Users benefit from instant Bitcoin payments and minimal fees, while custodians manage the complexities of channel and liquidity management. Major platforms like Coinbase, Cash App, Kraken, and Binance provide over 200 million users with direct access to Lightning payments. While the Lightning Network excels at facilitating payments between custodial wallets, doing so for mobile, self-custodial users is more challenging, particularly during periods of high transaction fees. As Roy Sheinfeld, CEO of Breez, wrote earlier this summer, this challenge is analogous to the “last-mile problem” observed in various transportation…

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