1 year ago
Lighting Network helps Bitcoin lick its scalability occupation and vie against newer cryptocurrency projects that promised comparatively faster and cheaper transactions.
Crypto speech Coinbase has confirmed its determination to integrate furniture 2 outgo protocol Lightning Network arsenic users question faster and cheaper Bitcoin (BTC) transactions.
Lighting Network (LN) was created to assistance lick Bitcoin’s scalability occupation and to vie against newer cryptocurrency projects that promised comparatively faster and cheaper transactions.
Up until recently, large crypto exchanges, including Coinbase and Binance, revealed no intent to follow the furniture 2 solution arsenic galore assemblage members argued that NL integration offered less incentives for exchanges’ income.
The squad did a large occupation digging into this, and we've made the determination to integrate Lightning. Bitcoin is the astir important plus successful crypto and we're excited to bash our portion to alteration faster/cheaper Bitcoin transactions. Will instrumentality immoderate clip to integrate truthful delight beryllium patient. https://t.co/FneeXkLI25
— Brian Armstrong ️ (@brian_armstrong) September 13, 2023Countering the predominant narrative, Coinbase CEO Brian Armstrong confirmed the exchange’s determination to integrate Lightning Network. He added:
“Bitcoin is the astir important plus successful crypto and we're excited to bash our portion to alteration faster/cheaper Bitcoin transactions. Will instrumentality immoderate clip to integrate truthful delight beryllium patient.”The determination comes a period aft Viktor Bunin, Protocol Specialist astatine Coinbase, started investigating the feasibility of LN integration. During this timeline, MicroStrategy laminitis Michael Saylor and Square CEO Jack Dorsey publically questioned Armstrong’s presumption connected LN.
We’re looking into however to champion adhd Lightning. It’s non-trivial, but I deliberation worthy doing. I’m each for payments taking disconnected successful Bitcoin.
Not definite wherefore you deliberation we’re ignoring Bitcoin - we’ve onboarded much radical to Bitcoin than astir apt immoderate institution successful the world.
Let’s physique it… https://t.co/9dFGYd6XZt
Following Armstrong’s announcement, the crypto assemblage celebrated the determination arsenic Coinbase’s LN integration volition let much users to witnesser affordable and businesslike Bitcoin microtransactions.
Related: Bitcoin Lightning Network is growing, but 3 large challenges remain
On July 17, Binance announced the completion of Bitcoin LN integration for BTC withdrawals and deposits.
— Binance (@binance) July 17, 2023Binance users who take to retreat oregon deposit Bitcoin are present capable to prime “LIGHTNING” arsenic an option. Other options see BNB Smart Chain (BEP-20), Bitcoin, BNB Beacon Chain (BEP2), BTC (SegWit), and Ethereum ERC-20.
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