Coinbase, the largest U.S. crypto exchange by trading volume, has formally added support for the Lightning Network, a layer 2 solution that is aimed at enabling quicker and cheaper Bitcoin transactions.
The roll-out that begins today follows an announcement by the exchange seven months ago, saying it will adopt the protocol. The Lightning Network is designed to make Bitcoin more useful by enabling almost instant, low-cost payments as opposed to the frequently slower and more costly traditional on-chain ways.
User Benefits from Lightning Network
Before the integration, Bitcoin transactions on Coinbase were processed only on-chain, which could take about 10 minutes to two hours. As a result, high fees were charged during peak network periods. The Lightning Network runs on top of the Bitcoin blockchain and uses bidirectional payment channels to settle transactions off-chain, hence achieving instant transaction speeds with minimal fees.
We’re thrilled to announce that @Coinbase is rolli
We współpracy z: https://coingape.com/coinbase-rolls-out-bitcoin-lightning-network/
