Bitcoin

Light

<html>
 <head></head>
 <body>
  <ul> 
   <li><strong>The integration allows Binance users to conduct deposits and withdrawals on the Bitcoin Lightning Network.</strong></li> 
   <li><strong>Binance’s integration of the Lightning Network for Bitcoin transactions also sets an example for other exchanges.</strong></li> 
  </ul> 
  <p>Earlier today on Monday, July 17, crypto exchange Binance made an official announcement of completing the integration of the Bitcoin Lightning Network at its end. This Layer-2 scalability solution facilitates low-cost transactions and prevents network congestion on the Bitcoin mainnet.</p> 
  <p>With the latest integration, Binance users can use the Bitcoin Lightning Network for BTC deposits and withdrawals. The official <a href="https://www.binance.com/en/support/announcement/binance-completes-integration-of-bitcoin-btc-on-lightning-network-opens-deposits-and-withdrawals-eefbfae2c0ae472d9e1e36f1a30bf340" target="_blank" rel="noopener noreferrer nofollow">announcement</a> from Binance reads:</p> 
  <blockquote> 
   <p>Binance has completed the integration of Bitcoin (BTC) on the Lightning Network. Deposits and withdrawals for Bitcoin (BTC) are now open on the Lightning Network.</p> 
  </blockquote> 
  <div class="flex-1 overflow-hidden"> 
   <div class="react-scroll-to-bottom--css-ylifr-79elbk h-full dark:bg-gray-800"> 
    <div class="react-scroll-to-bottom--css-ylifr-1n7m0yu"> 
     <div class="flex flex-col text-sm dark:bg-gray-800"> 
      <div class="group w-full text-gray-800 dark:text-gray-100 border-b border-black/10 dark:border-gray-900/50 bg-gray-50 dark:bg-[#444654]"> 
       <div class="flex p-4 gap-4 text-base md:gap-6 md:max-w-2xl lg:max-w-[38rem] xl:max-w-3xl md:py-6 lg:px-0 m-auto"> 
        <div class="relative flex w-[calc(100%-50px)] flex-col gap-1 md:gap-3 lg:w-[calc(100%-115px)]"> 
         <div class="flex flex-grow flex-col gap-3"> 
          <div class="min-h-[20px] flex items-start overflow-x-auto whitespace-pre-wrap break-words flex-col gap-4"> 
           <div class="markdown prose w-full break-words dark:prose-invert light"> 
            <p>Over the past two months, Binance has been working on integrating the Bitcoin Lightning technology. In early May 2023, Binance had to temporarily stop withdrawals amid a strong surge in the Bitcoin transaction fees driven by the buzzing activity of Bitcoin ordinals.</p> 
            <p>In June, Binance’s CEO, Changpeng Zhao, confirmed that they have been working on integrating the Bitcoin Lightning Network. This network helps make Bitcoin transactions faster and more scalable. By using this technology, Binance aims to provide users with smoother experiences by reducing transaction costs and speeding up the time it takes to complete transactions.</p> 
            <p>The integration of the Lightning Network also improves the overall efficiency and convenience of using Bitcoin. It also enhances Bitcoin’s scalability by using off-chain capabilities, which helps address problems like network congestion and transaction delays.</p> 
            <p>Binance’s integration of the Lightning Network for Bitcoin transactions also sets an example for other exchanges. It is possible that more exchanges will follow suit in the future to improve the scalability and efficiency of their services.</p> 
            <h3 id="big-players-adopting-bitcoin-s-lightning-network-solution">Big Players Adopting Bitcoin’s Lightning Network Solution</h3> 
            <p>Bitcoin developers have been working for a while to bring new advancements to the Bitcoin Lightning Network. Earlier this year, the team at Lightning Labs released an update to their node management tool called Litd. This tool is designed to make Bitcoin and the Lightning Network more user-friendly and easier to use.</p> 
            <p>For users to send and receive payments on the Lightning Network, they need to run a Lightning “node”. However, setting up and managing a node is difficult for ordinary users. Lightning Labs’ Lightning Terminal tool helps users manage their Lightning nodes more easily. With the latest update to Litd, certain aspects of node management are abstracted, which means users don’t have to handle them directly. This simplifies the process of using the Lightning Network and makes it more accessible to a wider range of users.</p> 
            <p>Also, MicroStrategy co-founder Michael Saylor has been extremely bullish about the Bitcoin Lightning solution. According to reports, Michael Saylor <a href="https://www.crypto-news-flash.com/adoption-microstrategy-and-michael-saylor-integrate-bitcoin-lightning-into-a-corporate-email-to-foster-ecosystem-development/" target="_blank" rel="noopener noreferrer nofollow">integrated</a> Bitcoin’s Lightning Network into his corporate email address. This integration involves using an internet identifier or email address instead of the usual Lightning invoices or payment requests that developers typically use.</p> 
            <p>Also, big players like Google have been using the <a href="https://www.crypto-news-flash.com/breaking-google-cloud-utilizes-bitcoin-lightning-network-to-scale-network-infrastructure-for-millions-of-users-across-50-countries/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Lightning Network</a> at their end for their Cloud services.</p> 
           </div> 
          </div> 
         </div> 
        </div> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div>
 </body>
</html>

Billion-Dollar Exchange Binance has completed Bitcoin Lightning Network Integration Revolutionizing BTC Withdrawals and Transactions Speed

Tabla de contenidos

Crypto News Flash

Otros artículos publicados el 17 jul 2023

Breaking: Celo Blockchain Set to Join Ethereum Ecosystem with Transition to Layer-2 Technology

National Australia Bank takes a stand against Crypto scams with bold exchange blocks

LDO, UNI, AAVE: 3 DeFi Coins Poised for Breakout Rallies

Ripple Believes Court Decision Will Draw Banks to Use its Product

Binance Unveils Multi-Address Deposits: Simplifying Crypto Networks

Elon Musk Effect: Twitter Loses Half of Advertising Revenue Since October

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!