Coinbase Looking to Add Lightning Network Support

Coinbase, 1 of the largest U.S.-based cryptocurrency exchanges, is moving to adhd enactment for Lightning Network connected its trading platform. Brian Armstrong, CEO of Coinbase, confirmed that the speech was looking into the champion ways to execute this task, reaffirming his enactment for bitcoin payments.

Coinbase Mulls Adding Support for Lightning Network

Coinbase, the U.S.-based cryptocurrency exchange, has fixed an update astir the imaginable integration of Lightning Network operations connected its platforms. The Lightning Network is simply a second-layer scaling protocol for Bitcoin, with the purpose of allowing users to payment from astir real-time transaction times and debased fees.

Answering a post wherever erstwhile Twitter CEO Jack Dorsey criticized him for ignoring Bitcoin and the Lightning Network successful the payments arena, Coinbase CEO Brian Armstrong stated:

We’re looking into however to champion adhd Lightning. It’s non-trivial, but I deliberation worthy doing. I’m each for payments taking disconnected successful Bitcoin.

Furthermore, Armstrong stated that Coinbase had “onboarded much radical to Bitcoin than astir apt immoderate institution successful the world,” inviting Dorsey to collaborate connected this task.

However, successful the exchange, Dorsey called for putting much resources down Coinbase’s “original absorption connected Bitcoin and furniture 2 technologies.” He concluded:

We privation an unfastened protocol for wealth transmission for the net that’s not controlled by a azygous individual, company, oregon government.

While Armstrong did not springiness immoderate dates regarding the implementation of Lightning, Victor Bunin, a protocol specializer astatine the exchange, reported helium was astatine the helm of this task portion asking for “insights connected assistance to adhd support, UX flows, unfastened root tooling, work providers, and borderline cases.”

A Non-Trivial Task

Armstrong referred to bringing Lightning Network enactment to Coinbase’s level arsenic a “non-trivial task,” indicating the process implied immoderate grade of complication. Other cryptocurrency builders person precocious voiced their ain challenges regarding gathering connected Lightning, criticizing the trouble down it.

Changpeng “CZ” Zhao, CEO of Binance, an speech that added support for Lightning Network deposits and withdrawals recently, stated that integrating tech to enactment the furniture 2 (L2) was “more complicated” than it mightiness look owed to the usage of on-demand invoices.

Also, Lightspark CEO David Marcus referred to the issue, stating that gathering connected apical of Lightning Network was “likely astatine slightest 5x harder than gathering with different protocols,” referring to the acquisition arsenic “incredibly analyzable and hard.”

What bash you deliberation astir Coinbase looking to instrumentality Lightning Network? Tell america successful the comments conception below.