Coinspeaker
Coinbase to Integrate Bitcoin Lightning Network
Coinbase CEO Brian Armstrong has announced the exchange’s plans to integrate the Bitcoin Lightning Network (LN) into its infrastructure.
LN is a layer 2 payment protocol that was created to improve the scalability of Bitcoin and allow cheaper and faster Bitcoin transactions. Joseph Poon and Thaddeus Dryja proposed the protocol in a whitepaper published in January 2016. The protocol fast-tracks Bitcoin transactions by reducing the load on the Bitcoin network during periods of peak demand.
Interestingly, the proposal struggled to gain traction. Until recently, major exchanges like Kraken, Bitfinex, Binance and Coinbase made no attempts to use it. Members of the community had argued that the network would not boost the exchanges’ income, hence the disinterest.
All that changed when Kraken announced the complete integration of the protocol for BTC withdrawals and deposits in 2022. In July, Binance also announced its integrati
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