Crypto:
30253
Bitcoin:
$66.103
% 0.03
BTC Dominance:
%54.0
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Market Cap:
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% 1.30
Fear & Greed:
74 / 100
Bitcoin:
$ 66.103
BTC Dominance:
% 54.0
Market Cap:
$2.41 T

Coinbase Integrates Bitcoin Lightning Network for Faster, Cheaper Transactions

Coinbase

Coinbase finally joins Binance and other major exchanges in adopting the Bitcoin Lightning Network. This integration promises significant improvements for users by enabling near-instantaneous and low-cost Bitcoin transactions.

Lightspark, a leading Lightning Network provider, facilitates the integration for Coinbase. This partnership allows Coinbase to leverage Lightspark’s infrastructure while maintaining control over its signing keys. Lightspark’s expertise simplifies node management and optimizes transaction success rates through its AI-powered engine.

Benefits of Coinbase’s Lightning Network Adoption:

Faster and Cheaper Transactions: Users will experience significant speed and cost improvements compared to traditional Bitcoin transactions on the main blockchain.

Enhanced Scalability: Lightning Network alleviates pressure on the Bitcoin network during periods of high transaction volume.

Lays groundwork for future applications: This integration paves the way for innovative Bitcoin use cases by increasing network liquidity.

Coinbase’s VP of Corporate & Business Development, Shan Aggarwal, emphasizes the partnership’s significance:

“We’re excited to partner with Lightspark to eliminate payment barriers and enable faster and cheaper Bitcoin transactions through support for the Bitcoin Lightning Network.”

This integration addresses a major pain point for users and is a crucial step for Bitcoin as adoption and transaction volume continue to rise.

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