1 year ago
Coinbase CEO Brian Armstrong said the speech has decided to integrate the Bitcoin (BTC) Lightning Network (LN) aft respective months of questioning by the crypto community.
In a Sept. 13 post connected X (formerly Twitter), Armstrong stated that the speech was consenting to bash its portion successful enabling faster and cheaper Bitcoin transactions due to the fact that the flagship integer plus was the astir important cryptocurrency successful the industry.
The LN is the astir fashionable “layer 2” outgo protocol built connected Bitcoin. This solution facilitates quicker and much cost-effective transactions among web nodes. Its superior extremity is to code the scalability challenges faced by BTC, yet enhancing idiosyncratic restitution and perchance spurring accrued usage of the blockchain network.
Armstrong did not supply a definite timeline connected erstwhile the level would implicit this integration, saying, “[BTC lightning network] volition instrumentality immoderate clip to integrate, truthful delight beryllium patient.”
Meanwhile, Viktor Bunin, the exchange’s protocol specializer astatine Coinbase Cloud, is starring the integration effort.
In an Aug. 2 post, Bunin invited the assemblage to interaction him with input connected assorted integration aspects, including support, idiosyncratic acquisition enhancements, unfastened root tools, work providers, and addressing imaginable borderline cases. This suggests that Coinbase is actively engaging with its idiosyncratic basal to guarantee a robust and user-friendly Lightning Network integration.
Coinbase has yet to respond to CryptoSlate’s petition for further commentary arsenic of property time.
Coinbase has drawn aggravated criticism from the crypto assemblage owed to its constricted entree to the scaling solution. Twitter co-founder Jack Dorsey publically questioned wherefore the speech neglected this solution portion pursuing different crypto outgo options.
In response, Armstrong consistently maintained that the level was actively moving towards integrating the BTC furniture 2 scaling solution, though helium ever refrained from specifying a factual timeline for this integration.
The station Coinbase decides connected Bitcoin Lightning Network integration, promising faster transactions appeared archetypal connected CryptoSlate.
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