News

Coinbase Ignites Bitcoin Lightning Network Integration, Boosting Transaction Speeds

Key Points:

  • Coinbase CEO announces integration of the Lightning Network to their platform.
  • Lightning Network offers faster transaction speed and cheaper fees.
  • Coinbase integration will bolster Bitcoin and strengthen its position among rivals Kraken, Bitfinex, BitStamp, and OKEx.
Coinbase CEO Brian Armstrong announced via a tweet on April 8 that the cryptocurrency exchange will be integrating Bitcoin’s Lightning network into its platform.

Armstrong’s statement came in response to a tweet by Bitcoin enthusiast Wicked, who challenged him for not publicly commenting on the Lightning network earlier.

In response, Armstrong explained that his tweets auto-delete after some months, which is why there is no history of his comments on the scaling solution. He also stated that he believes “Lightning is great” and that the exchange will be integrating it soon.

While Armstrong did not disclose details on when this integration would occur, many crypto stakeholders reacted positively to the news. For example, MicroStrategy’s founder Michael Saylor praised the move, and Bitcoin holder Derek Ross expressed his excitement about the possibility of “adding Lightning support for deposits and withdrawals.”

However, some people were skeptical of Coinbase’s ability to implement this integration, with one Twitter user noting that it might take a long time for the exchange to do so.

Others advised Coinbase to expedite the integration process, as they fear the company might end up with nothing to offer apart from Bitcoin, given the current regulatory environment.

If Coinbase integrates Lightning, it will be joining its rivals, such as Kraken, Bitfinex, BitStamp, and OKEx, which have already added support for the L2 solution.

Coinbase’s move to integrate Lightning is a significant development in cryptocurrency that could help solve some of Bitcoin’s scalability issues. It will also make it easier for users to make faster transactions and pay lower fees, which could encourage more people to adopt cryptocurrencies as a form of payment.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

2 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

4 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

5 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

8 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

11 hours ago

This website uses cookies.