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 <p class="is-style-lead">Coinbase is considering integrating Bitcoin’s Lightning Network to facilitate quicker crypto payments.</p> 
 <p>The exchange’s CEO, Brian Armstrong, hinted at it in response to a tweet by Jack Dorsey.&nbsp;The Twitter co-founder, in his turn, questioned Coinbase’s approach toward Bitcoin (BTC) and Lightning Network adoption.</p> 
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    <p lang="en" dir="ltr">We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I’m all for payments taking off in Bitcoin.<br><br>Not sure why you think we’re ignoring Bitcoin – we’ve onboarded more people to Bitcoin than probably any company in the world.<br><br>Let’s build it… https://t.co/9dFGYd6XZt</p>— Brian Armstrong ️ (@brian_armstrong) August 2, 2023 
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 <p>Armstrong voiced enthusiasm for integrating it into Coinbase, emphasizing that although the <a rel="noopener noreferrer nofollow" title="integration" href="https://thebittimes.com/tag/integration.html">integration</a> is complex, the advantages of facilitating speedier Bitcoin payments make it worthwhile. </p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Binance integrates The Bitcoin Lightning Network 
 </div> 
 <p>Coinbase’s apparent lack of commitment to the Lightning Network has drawn criticism. Despite some doubts, Armstrong has repeatedly promised supporters that the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> would be included in the exchange. However, the breadth and timetable of the <a rel="noopener noreferrer nofollow" title="integration" href="https://thebittimes.com/tag/integration.html">integration</a> remain unknown at this time.</p> 
 <p>Many competing cryptocurrency exchanges, including OKX, Binance, Kraken, and Bitfinex, have already adopted Lightning Network support. OKX launched its <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> in 2021, allowing customers to deposit and withdraw Bitcoin easily. In 2022, Kraken followed suit, praising the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> for its speed and cheap fees while sending Bitcoin. Bitfinex, however, has begun using the Lightning Network this year.</p> 
 <p>Integration with the Lightning Network has the potential to speed up Bitcoin transactions. Off-chain transactions are possible if communication channels between parties are set up. When a transaction is completed, the corresponding channel closes, and the relevant information is added to the main Bitcoin blockchain, allowing for much quicker settlements.</p> 
 <p>In addition, conventional banks are now investigating Lightning Network. In March, Xapo Bank and Lightspark collaborated to add the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a>, enabling consumers to purchase Bitcoin via the bank.</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Lightning Labs releases tools to integrate Bitcoin, Lightning Network with AI 
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Coinbase CEO hints at Bitcoin lightning network integration

TheBitTimes

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