• Coinbase, the largest and most popular crypto exchange in the US, has announced that it will be integrating the bitcoin Lightning Network onto its platform.
• The Lightning Network is a system designed to speed up smaller bitcoin transactions and reduce costs associated with them.
• Coinbase CEO Brian Armstrong has confirmed this news on Twitter, although the company is currently dealing with some legal issues from the Securities and Exchange Commission (SEC).
Coinbase Integrating Bitcoin Lightning Network
Coinbase – the largest and most popular crypto exchange in the U.S. – has confirmed it’s going to be integrating the bitcoin Lightning Network onto its platform, thus ensuring bitcoin transactions scale and move along at quicker paces.
What is The Lightning Network?
The Lightning Network has been all the rage in the bitcoin community for some time. The idea is that it helps move various (smaller) bitcoin transactions off-chain, thus ensuring the network has less baggage to deal with. This allows for faster transfers between wallets as well as reduce transaction costs – something that has been a problem for Bitcoin in the past.
Confirmation From Coinbase CEO
The news involving The Lightning Network was announced on Twitter by Brian Armstrong, the CEO of Coinbase. He stated: „Lightning is great and something we’ll integrate.“
Coinbase Currently Dealing With SEC Issues
The news comes at an interesting time given Coinbase is dealing with quite a bit right now. Not long ago, they received a Wells notice from The Securities and Exchange Commission (SEC), which could potentially lead to charges against them in the future. This gives them time to prepare their defense should any charges come about..
Overall Reception Positive
Overall reception of this news has been positive with Gabor Gurbacs – a crypto entrepreneur and advisor to Van Eck – saying: “Looking forward to seeing Lightning support on Coinbase.“