Coinbase, one of the leading crypto exchanges, has announced that it will integrate the Lightning Network, a layer-2 blockchain that enhances the speed and efficiency of bitcoin (BTC) transactions.
The team did a great job digging into this, and we've made the decision to integrate Lightning. Bitcoin is the most important asset in crypto and we're excited to do our part to enable faster/cheaper Bitcoin transactions. Will take some time to integrate so please be patient. https://t.co/FneeXkLI25
— Brian Armstrong 🛡️ (@brian_armstrong) September 13, 2023
This is a major boost for the blockchain that aims to make bitcoin more viable as a payment option. Coinbase CEO Brian Armstrong confirmed the decision on X (formerly Twitter), after revealing in early August that the company was exploring Lightning support.
He also expressed his admiration for bitcoin, calling it “the most important asset in crypto.” He had previously stated: “I’m all for payments taking off in Bitcoin.”
The Lightning Network works by transferring bitcoin transactions to a separate blockchain that is connected to the Bitcoin blockchain.
This allows for faster and cheaper processing, which is essential if BTC wants to become a widely used method of payment.