Coinbase To Adopt Bitcoin Lightning Network
Coinbase adopts the Lightning Network for faster, cheaper Bitcoin trades, joining Binance in the move.
Coinbase will start using the Lightning Network to make Bitcoin trades faster and cheaper.
The Lightning Network (LN) was made to improve Bitcoin, making it quicker and less costly than other digital currencies.
Many big crypto platforms, like Coinbase and Binance, didn't want to use LN. They thought it wouldn't help them earn as much. But now, Coinbase CEO Brian Armstrong says they will use the Lightning Network. He shared, "Bitcoin is key in crypto. We want to make Bitcoin trades quicker and cheaper. It will take time, so please wait."
This change started when a Coinbase expert, Viktor Bunin, looked into using LN. Two big names, Michael Saylor and Jack Dorsey, also asked Armstrong about it.
After the news, many in the crypto world were happy. They believe Coinbase using LN will help many people see the benefits of quick and cheap Bitcoin trades.
On July 17, Binance announced that they're now using Lightning Network for Bitcoin. People using Binance can choose “LIGHTNING” when they want to move Bitcoin in or out.
