Coinbase eyes Bitcoin Lightning Community integration, says CEO Brian Armstrong

Brian Armstrong, Coinbase’s CEO, mentioned the trade was working to combine Bitcoin (BTC) Lightning Community (LN) as a part of efforts to drive cryptocurrency funds on the planet, in response to an Aug. 2 tweet.

Armstrong made this assertion in response to a tweet from Jack, Twitter’s co-founder, who questioned why Coinbase was ignoring the implementation of LN in its try and additional crypto cost choices.

In response, Armstrong mentioned:

“We’re trying into learn how to finest add Lightning. It’s non-trivial, however I feel price doing. I’m all for funds taking off in Bitcoin.”

The LN is a “layer 2” cost protocol constructed on Bitcoin. The scaling resolution permits quicker, cheaper transactions between nodes and goals to resolve BTC scalability points, thereby bettering person expertise and doubtlessly driving broader adoption of the flagship digital asset. It is usually the preferred BTC L2 resolution.

Armstrong didn’t present extra data on when the Coinbase integration may occur.

In April, the Coinbase CEO hinted that the trade would combine LN into its platform after being challenged by a number of neighborhood members over the trade’s lack of entry to the scaling resolution.

In the meantime, Binance joined different prime exchanges, together with Bitfinex, Kraken, and OKX, that built-in the L2 resolution in July.

BTC Lightning adoption grows

LN adoption has grown for the reason that starting of the 12 months, evidenced by the latest partnership between Bitcoin Lightning infrastructure supplier, Voltage and Google Cloud to extend its internet hosting capability and places globally.

Information from Glassnode additional reveals that the overall worth of property locked on the community peaked at over 5,000 BTC in early July. This represents important development for the online, contemplating it had round 4,000 BTC at first of this 12 months.

Nevertheless, the TVL has dipped by greater than 600 BTC in latest weeks to 4,706 BTC as of press time.

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