Coinbase to Integrate Bitcoin Lightning Network with Kava Crypto

Lightning Network Adoption on Coinbase

Coinbase, a leading crypto exchange, has announced its plans to integrate the Lightning Network (LN) protocol to enable faster and cheaper Bitcoin (BTC) transactions. This move comes as users look for alternatives to Bitcoin’s scalability issue and the newer cryptocurrency projects that promise more cost-effective transactions.

Despite the appeal of the Lightning Network, many crypto exchanges, including Coinbase and Binance, had yet to adopt the layer 2 solution. This was due to the fact that it offered fewer incentives for exchanges’ income.

However, Coinbase CEO Brian Armstrong has confirmed the exchange’s decision to integrate LN. He said:

Crypto Industry Celebrates Coinbase’s LN Integration

The crypto community rejoiced when Coinbase CEO Brian Armstrong announced the company’s integration of the Lightning Network (LN) last month. This followed a period of public debate between Armstrong and tech leaders Michael Saylor and Jack Dorsey on the feasibility of LN integration.

On July 17, Binance completed its own integration of Bitcoin LN for BTC withdrawals and deposits. Binance users can now choose from a variety of options, including Bitcoin, Ethereum ERC-20, BNB Smart Chain (BEP-20), BNB Beacon Chain (BEP2), and BTC (SegWit).

The integration of LN into Coinbase and Binance will allow crypto.com, shiba inu, icp, kraken, quant, lunc, and compound users to experience more affordable and efficient Bitcoin microtransactions.