Cryptocurrency exchange Binance announced that it is preparing to integrate the Bitcoin Lightning Network (LN) micropayment network for deposits and withdrawals.
Some eagle-eyed users spotted our new lightning nodes recently. Yes – that’s us!
However, there’s still more tech work to be done. We’ll update once Lightning is fully integrated. https://t.co/N0oN8561sN
— Binance (@binance) June 20, 2023
“Some attentive users have recently noticed our new Lightning nodes. Yes – it’s us! However, there is still a lot of technical work ahead. We will inform you as soon as LN is fully integrated, ”said representatives of the platform.
Binance first announced integration plans in May after an internal failure due to bitcoin network congestion. To prevent similar situations in the future, the exchange team has begun work on ensuring the withdrawal of the first cryptocurrency through the Lightning Network.
Some competing trading platforms – Bitfinex and Kraken – have already added support for the micropayment network.
According to the data LookIntoBitcoin, LN throughput has been growing over the past year. At the time of writing, the indicator is at around $145.3 million or 5410 BTC.
Recall that in June, the Binance mining pool introduced a transaction acceleration service for VIP traders.
Earlier, Coinbase CEO Brian Armstrong promised to integrate the Lightning Network “in some capacity.”
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!