Coinbase CEO Brian Armstrong mentioned the change 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 publish on X (previously Twitter), Armstrong said that the change was prepared to do its half in enabling sooner 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 more cost effective transactions amongst community nodes. Its major purpose is to deal with the scalability challenges confronted by BTC, finally enhancing consumer 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 change’s protocol specialist at Coinbase Cloud, is main the mixing effort.
In an Aug. 2 publish, Bunin invited the group to contact him with enter on numerous integration facets, together with help, consumer expertise enhancements, open supply instruments, service suppliers, and addressing potential edge circumstances. This implies 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 crypto-news’s request for extra commentary as of press time.
Coinbase has drawn intense criticism from the crypto group attributable to its restricted entry to the scaling resolution. Twitter co-founder Jack Dorsey publicly questioned why the change uncared for this resolution whereas pursuing different crypto fee choices.
In response, Armstrong persistently maintained that the platform was actively working in direction of integrating the BTC layer two scaling resolution, though he all the time kept away from specifying a concrete timeline for this integration.
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