Coinbase Integrates Bitcoin Lightning Network: Transactions to Move Faster and Cheaper
• Coinbase – the largest and most popular crypto exchange in the U.S. – has confirmed it’s going to be integrating the bitcoin Lightning Network onto its platform.
• The Lightning Network helps move various (smaller) bitcoin transactions off-chain, thus ensuring the network has less baggage to deal with and that transactions are less costly.
• The news comes at an interesting time given Coinbase is dealing with a Wells notice from the SEC which could lead to charges against them in the future.
Coinbase, one of the biggest and most popular crypto exchanges in America, recently announced it will integrate Bitcoin’s Lightning Network onto its platform.
Lightning Network Benefits
The Lightning Network is designed to help move smaller transactions off-chain, making them faster and more cost effective than traditional Bitcoin transfers. By removing some of these lesser transactions from the mainframe, Bitcoin can move faster when being transferred between wallets.
SEC Bullying Crypto Companies?
The news of Coinbase integrating the Lightning Network came shortly after they received a Wells notice from the Securities and Exchange Commission (SEC). A Wells notice does not charge a company with any crime but warns them that they may be charged in the future. This gives companies time to prepare for legal action if needed. It appears as though many Crypto companies have been targeted by this agency due to their lack of understanding on how cryptocurrency works and their desire for penalty money from businesses using digital currencies.
Positive Reactions From Crypto Community
The announcement has been met positively within the crypto community, with Gabor Gurbacs – a crypto entrepreneur and advisor to Van Eck – expressing his excitement for seeing Lightning support on Coinbase soon.
Coinbase’s integration of Bitcoin’s Lightning Network looks set to revolutionize how quickly users can transfer funds between wallets at lower costs than ever before – something that should please both users of Coinbase as well as those within the wider Crypto community alike!