{"id":154994,"date":"2023-09-13T13:25:45","date_gmt":"2023-09-13T07:55:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154994"},"modified":"2023-09-13T13:25:45","modified_gmt":"2023-09-13T07:55:45","slug":"coinbase-to-integrate-bitcoin-lightning-network-ceo-brian-armstrong-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/coinbase-to-integrate-bitcoin-lightning-network-ceo-brian-armstrong-crypto-news\/","title":{"rendered":"Coinbase to integrate Bitcoin Lightning network: CEO Brian Armstrong – Crypto News"},"content":{"rendered":"
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Crypto exchange Coinbase has confirmed its decision to integrate layer 2 payment protocol Lightning Network as users seek faster and cheaper Bitcoin (BTC<\/a>) transactions.\u00a0<\/p>\n

Lighting Network (LN)<\/a> was created to help solve Bitcoin\u2019s scalability problem and to compete against newer cryptocurrency projects that promised comparatively faster and cheaper transactions.\u00a0<\/p>\n

Up until recently, major crypto exchanges, including Coinbase and Binance, revealed no intent to adopt the layer 2 solution<\/a> as many community members argued that NL integration offered fewer incentives for exchanges\u2019 income.<\/p>\n

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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<\/a><\/p>\n

\u2014 Brian Armstrong \ufe0f (@brian_armstrong) September 13, 2023<\/a><\/p><\/blockquote>\n

Countering the predominant narrative, Coinbase CEO Brian Armstrong<\/a> confirmed the exchange\u2019s decision to integrate Lightning Network. He added:<\/p>\n

\u201cBitcoin 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.\u201d<\/p><\/blockquote>\n

The decision comes a month after Viktor Bunin, Protocol Specialist at Coinbase, started investigating the feasibility of LN integration. During this timeline, MicroStrategy founder Michael Saylor and Square CEO Jack Dorsey publicly questioned Armstrong\u2019s position on LN.<\/p>\n

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We\u2019re looking into how to best add Lightning. It\u2019s non-trivial, but I think worth doing. I\u2019m all for payments taking off in Bitcoin.<\/p>\n

Not sure why you think we\u2019re ignoring Bitcoin – we\u2019ve onboarded more people to Bitcoin than probably any company in the world.<\/p>\n

Let\u2019s build it\u2026 https:\/\/t.co\/9dFGYd6XZt<\/a><\/p>\n

\u2014 Brian Armstrong \ufe0f (@brian_armstrong) August 2, 2023<\/a><\/p><\/blockquote>\n

Following Armstrong\u2019s announcement, the crypto community celebrated the decision as Coinbase\u2019s LN integration will allow more users to witness affordable and efficient Bitcoin microtransactions.<\/p>\n

Related: <\/em><\/strong>Bitcoin Lightning Network is growing, but 3 major challenges remain<\/em><\/strong><\/a><\/p>\n

On July 17, Binance announced the completion of Bitcoin LN integration<\/a> for BTC withdrawals and deposits.<\/p>\n

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#Binance<\/a> has completed the integration of Bitcoin ( #BTC<\/a> ) on the Lightning Network and deposits and withdrawals are now open. <\/p>\n

More details here https:\/\/t.co\/aIofPdtAGY<\/a><\/p>\n

\u2014 Binance (@binance) July 17, 2023<\/a><\/p><\/blockquote>\n

Binance users who choose to withdraw or deposit Bitcoin are now able to select \u201cLIGHTNING\u201d as an option. Other options include BNB Smart Chain (BEP-20), Bitcoin, BNB Beacon Chain (BEP2), BTC (SegWit), and Ethereum ERC-20.<\/p>\n

Magazine: <\/em><\/strong>6 Questions for Kei Oda: From Goldman Sachs to cryptocurrency<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange Coinbase has confirmed its decision to integrate layer 2 payment protocol Lightning Network as users seek faster and cheaper Bitcoin (BTC) transactions.\u00a0 Lighting Network (LN) was created to help solve Bitcoin\u2019s scalability problem and to compete against newer cryptocurrency projects that promised comparatively faster and cheaper transactions.\u00a0 Up until recently, major crypto exchanges, […]<\/p>\n","protected":false},"author":2,"featured_media":154995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-154994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154994"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154994\/revisions"}],"predecessor-version":[{"id":154997,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154994\/revisions\/154997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154995"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}