Coinbase CEO Brian Armstrong stated the trade has determined to combine the Bitcoin (BTC) Lightning Community (LN) after a number of months of questioning by the crypto group.
In a Sept. 13 submit on X (previously Twitter), Armstrong acknowledged that the trade was prepared to do its half in enabling quicker and cheaper Bitcoin transactions as a result of the flagship digital asset was crucial cryptocurrency within the business.
The LN is the preferred “layer 2” fee protocol constructed on Bitcoin. This resolution facilitates faster and cheaper transactions amongst community nodes. Its main objective is to handle the scalability challenges confronted by BTC, in the end enhancing person satisfaction and doubtlessly spurring elevated utilization of the blockchain community.
Armstrong didn’t present a particular timeline on when the platform would full this integration, saying, “[BTC lightning network] will take a while to combine, so please be affected person.”
In the meantime, Viktor Bunin, the trade’s protocol specialist at Coinbase Cloud, is main the combination effort.
In an Aug. 2 submit, Bunin invited the group to contact him with enter on varied integration elements, together with assist, person expertise enhancements, open supply instruments, service suppliers, and addressing potential edge circumstances. This implies that Coinbase is actively participating with its person base to make sure a sturdy and user-friendly Lightning Community integration.
Coinbase has but to reply to CryptoSlate’s request for added commentary as of press time.
Coinbase has drawn intense criticism from the crypto group on account of its restricted entry to the scaling resolution. Twitter co-founder Jack Dorsey publicly questioned why the trade uncared for this resolution whereas pursuing different crypto fee choices.
In response, Armstrong constantly maintained that the platform was actively working in the direction of integrating the BTC layer two scaling resolution, though he at all times avoided specifying a concrete timeline for this integration.
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