Paxful, a popular peer-to-peer crypto marketplace with more than seven million users worldwide, has today announced the integration of the Lightning Network protocol into its platform to allow fast and cheap Bitcoin deposits and withdrawals.
Lightning Labs, the leading provider of the payments infrastructure, has provided technical support with the integration that will enable Paxful’s customers to use the Lightning Network to transact with each other or pay for goods or services listed on the platform.
What is Lightning Network?
Lightning Network is a second-layer scaling solution designed to speed up Bitcoin transactions by routing transactions through channels without the need to use the Bitcoin blockchain to verify each and every transaction.
With a median base fee of one satoshi (the smallest unit of Bitcoin), the Lightning Network mainly targets micropayments, opening up a host of use cases that would be too expensive if carried out on Bitcoin’s main network. These could incl
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