Bullet Points
- 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.
- Coinbase recently announced it received a Wells notice from the Securities and Exchange Commission (SEC).
Coinbase Integrates Bitcoin Lightning Network
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, thus ensuring bitcoin transactions scale and move along at quicker paces. The news was announced on Twitter by Brian Armstrong, the CEO of Coinbase.
Lightning Network Benefits
The Lightning Network has been all the rage in the bitcoin community for some time. The idea is that it helps move various (smaller) bitcoin transactions off-chain, thus ensuring the network has less baggage to deal with. Removing some of these lesser transactions from the BTC mainframe allows bitcoin to move faster when being transferred between wallets. It also ensures transactions are less costly, which has been a problem with bitcoin in the past.
Wells Notice Received by Coinbase
This news comes at an interesting time given Coinbase is dealing with quite a bit right now. Not long ago, Coinbase revealed it received a Wells notice from the Securities and Exchange Commission (SEC), which has become a major bully on the crypto playground. A Wells notice doesn’t charge a company with any crime; however, it’s a warning to said company that they may face charges later down line and should prepare accordingly for legal action if needed.
Reactions From Crypto Community
The news surrounding Coinbase’s decision to integrate Bitcoin’s Lightning network was met overwhelmingly positively by members of cryptocurrency communities around world with Gabor Gurbacs saying: „Looking forward to seeing Lightning support on Coinbase.“