Coinbase CEO Brian Armstrong mentioned the trade has determined to combine the Bitcoin (BTC) Lightning Community (LN) after a number of months of questioning by the crypto neighborhood.
In a Sept. 13 publish on X (previously Twitter), Armstrong acknowledged that the trade was keen 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” cost protocol constructed on Bitcoin. This resolution facilitates faster and cheaper transactions amongst community nodes. Its major objective is to handle the scalability challenges confronted by BTC, finally enhancing consumer satisfaction and probably 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 publish, Bunin invited the neighborhood to contact him with enter on varied integration elements, together with help, consumer expertise enhancements, open supply instruments, service suppliers, and addressing potential edge circumstances. This means that Coinbase is actively partaking with its consumer base to make sure a strong 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 neighborhood because 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 cost choices.
In response, Armstrong constantly maintained that the platform was actively working in direction of integrating the BTC layer two scaling resolution, though he all the time shunned specifying a concrete timeline for this integration.
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