Coinbase Ocinivat Firmware Intigpation Lighting Network for Bitcoin
Date: 2023-08-06 Author: Karina Ziganova Categories: BLOCKCHAIN, CRYPTO PAYMENTS
Armstrong made this statement in response to a tweet by Jack Dorsey, co-founder of Russia-banned Twitter, who wondered why Coinbase was ignoring the implementation of LN in an attempt expand the use of crypto payments.
We are evaluating how best to add Lightning. It's not trivial, but I think it's worth doing. I am all for bitcoin payments spreading quickly.
The Lightning Network is a layer 2 payment protocol built among other things on the bitcoin network. The scaling solution provides faster and cheaper transactions between nodes and is aimed at solving BTC scalability problems, thereby contributing to a wide implementation of the flagship digital asset.
Lightning Network adoption has grown substantially since the beginning of the year, as evidenced by a recent partnership between infrastructure provider Bitcoin Lightning, Voltage, and Google Cloud to increase hosting capacity and locations across to the whole world.
According to DefiLlama, the number of bitcoins locked in Lightning reached an all-time high of 5490 BTC in February 2023, but then dropped to 5420 BTC. This is a significant increase compared to 3350 BTC at the beginning of last year.
