2 years ago
Binance hopes to alteration creaseless BTC deposits and withdrawals portion tackling web congestion issues.
On June 20, cryptocurrency speech Binance announced that it had commenced operating nodes connected the Bitcoin Lightning Network arsenic a important measurement toward integrating it for deposits and withdrawals.
In a tweet, Binance acknowledged users who noticed their caller Lightning nodes and confirmed their presence. However, Binance highlighted that further method enactment indispensable beryllium completed earlier the Lightning integration is afloat implemented, promising to supply updates on the way.
#Binance is moving to integrate the #Bitcoin Lightning Network for deposits and withdrawals.
Some eagle-eyed users spotted our caller lightning nodes recently. Yes - that's us!
However, there's inactive much tech enactment to beryllium done. We'll update erstwhile Lightning is afloat integrated. https://t.co/N0oN8561sN
In effect to the congestion witnessed connected the Bitcoin (BTC) network on May 7, Binance announced its plans to incorporated the Lightning Network to alleviate bottlenecks. In a tweet, Binance mentioned its ongoing efforts to alteration BTC Lightning Network withdrawals, recognizing its imaginable successful specified situations. The accrued congestion was chiefly caused by a surge successful BRC-20 transactions, with the popularity of memecoins being a contributing factor.
The Bitcoin Lightning Network is simply a layer-two protocol built connected the Bitcoin blockchain to code scalability issues. It allows participants to make outgo channels, behaviour off-chain transactions rapidly and inexpensively, and settee the channels connected the Bitcoin blockchain erstwhile necessary. The Lightning Network aims to heighten the speed, scalability and privateness of Bitcoin transactions, making it much businesslike for microtransactions portion reducing fees and congestion connected the main network.
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Recently, Binance has been entangled successful a ineligible battle with the United States Securities and Exchange Commission (SEC), causing a play of uncertainty for the company. However, determination is simply a consciousness of alleviation aft Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia approved a consent agreement between Binance, Binance.US and the SEC. The statement efficaciously dismissed a impermanent restraining bid filed by the SEC that would person frozen each Binance.US assets.
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