Coinbase CEO Brian Armstrong has confirmed plans to use bitcoin’s lightning network to transact on his platform. Known as the lightning network, it helps make transactions with the world’s leading digital currency faster and cheaper.
As an already tested scalability solution and with many nodes running the infrastructure, lightning allows even transactions of a few satoshis. That is, paying in seconds for a cup of coffee on the street becomes easy with technology.
For example, the adoption of LN has made El Salvador adopt bitcoin as its official currency since 2021, making it easier for local businesses to accept the currency.
Coinbase will soon join Bitcoin’s Lightning Network
Despite the promising Lightning Network technology being used by many companies and individuals, few cryptocurrency exchanges are still integrating the solution.
Binance, for example, considered the largest in the market by volume, has not yet configured its wallet to adhere to the technology. One that has already adopted the technology is Bitfinex, which allows instant bitcoin withdrawals and deposits at discounted prices.
Last Saturday (8), the CEO of Coinbase put down shed light on the debate when he confessed to recording lightning after a Twitter user asked him for a response on the subject, saying he had ignored the technology.
“My tweets are automatically deleted after a few months, so there is no search history. Lightning is great and something we are going to integrate.”

Coinbase adopting bitcoin technology should put pressure on the market
With few wallets sticking to bitcoin’s lightning network technology and even fewer exchanges, users are still waiting for implementation.
That is because, by enabling fast transactions at a negligible cost, even a trader conducting arbitrage operations between brokers could have more facilities.
However, Coinbase’s CEO’s announcement of adoption of bitcoin’s second-tier technology leaves doubts about when the exchange will open its doors. Still, it is pressuring the cryptocurrency market around the world to take a closer look at the tool.
For example, in Brazil, the bitcoin platform Bipa offers support, while other traditional brokers in the country have not yet implemented the solution.
Apparently, with the advent of Coinbase, platforms should be rushing to launch features of second tier bitcoin, no longer a differentiator for customers, but a fundamental tool for merchants.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.