The CEO of Coinbase has announced plans to incorporate The Lightning Network protocol into the trading platform’s features, which will allow for faster and more affordable transactions.
Brian Armstrong recently discussed the impending modifications to the Bitcoin Lightning Network on Coinbase after a lengthy delay.
Responding to a user’s social media post claiming that Armstrong was intentionally disregarding the Bitcoin Lightning Network and had never mentioned it on Twitter, Armstrong clarified that his tweets had been self-deleting for months and that the Lightning Network was indeed excellent and would soon be integrated into Coinbase.
The Lightning Network is designed to expedite the sending and receiving of bitcoins by conducting transactions outside of the primary blockchain, resolving some of the issues with protocol constraints and enabling BTC to be utilized as a digital currency.
The network utilizes a payment system between two users outside of the blockchain, with bitcoin being transferred between users through established channels on a regular basis.
It is worth noting that Xapo cryptobank previously announced plans to include payments in bitcoins through the Lightning Network.