Lily Wallet v1.2 adds transaction descriptions, address tags, and coin selection

After a fantastic week in Atlanta for TABConf, I am excited to be back home and releasing new code.

This latest version of Lily Wallet that brings the bitcoin financial experience one step closer to traditional finance applications.

This release allows users to add descriptions to their bitcoin transactions and tag their addresses.

Additionally, this new metadata can easily be searched across the recent activity, address, and UTXO views and ultimately incorporated into selecting coins to use when constructing transactions.

In earlier versions of Lily Wallet, the software automatically selected which coins to include in a user’s transaction. Now users can optimize their bitcoin transactions for either cost, speed, or privacy.

These new features allow users to organize, manage, and use their bitcoin more effectively.

Transaction Descriptions

Adding a description to transactions is the most basic way to bring bitcoin transactions in line with typical consumer money transfer applications.

Like Venmo, CashApp, and Bitcoin’s Lightning Network payments, this feature allows Lily Wallet users to provide context to onchain transactions beyond the standard time, amount, address, and payment direction.

Are you purchasing something online? Depositing money into an exchange? Opening a lightning network channel?

Add a description to the transaction to provide more context and better track your bitcoin activity.

Address Tags

While adding a description to a transaction is great for providing context at the transaction level, users should also add tags to individual addresses to preserve privacy better.

With this latest update, users can assign tags to specific addresses or an entire transaction, which will apply the metadata to all of the user’s addresses in the transaction.

The transaction and address tags provided by the user also get assigned to the UTXOs associated with those resources.

Coin Selection

This release of Lily Wallet also allows users to select which UTXOs to use when constructing their transactions.

The metadata attached to transactions and addresses is accessible from the UTXO view, allowing users to make more informed decisions about which inputs to use.

Whether you’re optimizing for privacy, fee costs, or UTXO consolidation, Lily now gives users complete control over what coins get used in their transactions.

Cross-Resource Searching

With this new metadata, all activity is now searchable by txid, transaction descriptions, or address tags associated with the transaction.

This should make finding old transactions a breeze!

This latest release of Lily Wallet contains a ton of new features that further the mission to make using bitcoin safe and easy.

With new features that allow more context to be added to resources managed by Lily Wallet, this brings us even closer to that goal.

To try it out, head over to the download page on the Lily Wallet website.

As always, the code is open source and can be reviewed on Github.