Coinbase to adopt Bitcoin Lightning Network via Lightspark

Coinbase to adopt Bitcoin Lightning Network via Lightspark

Coinbase to adopt Bitcoin Lightning Network via Lightspark

Coinbase has integrated the Bitcoin Lightning Network Layer-2 solution into its ecosystem using the open-source protocol Lightspark.

Customers within Coinbase’s ecosystem can use the Bitcoin Lightning network Layer-2 solution thanks to the open-source protocol Lightspark, selected by Coinbase, an American cryptocurrency exchange service provider.

In the long run, Coinbase customers should profit from this strategic partnership by having access to nearly instantaneous and more affordable Bitcoin transactions.

The Bitcoin Lightning Network is a decentralized network that makes use of the blockchain’s innovative contract capability. Its purpose is to permit transactions that are both quick and inexpensive across a network of participants.

An excerpt from a Lightspark report reads, “Coinbase customers will benefit from instant and cheaper transfers, and this integration will pave the way for more collaboration between the companies in the months and years to come.”

Throughout its existence, Lightspark has strategically positioned itself as “an enterprise-grade entry point to the Lightning Network on the market.”

Even the most demanding businesses can easily experience the Lightning Network thanks to the company’s curation of its software and services.

This is because the company has made it easy for them to do so. Lighspark asserts that developers working within the ecosystem can now construct without worrying about the difficulties of using a Lightning solution during the development process.

This is because the majority of the complexity required in both the implementation and management of a Lightning node, as well as the sending and receiving of transactions, has been addressed.

Several Lightspark technologies, such as Lightspark SDKs, APIs, and even an artificial intelligence-based tool called Lightspark Predict, were utilized by the company to accomplish this remarkable feat.

Coinbase Finally Lands the “Best” Lightning Network Provider

Jack Dorsey, who had previously served as the CEO of X, once sent a question to Brian Armstrong, the CEO of Coinbase, inquiring as to why his cryptocurrency exchange appeared to be ignoring the Bitcoin Lightning Network.

In response, Armstrong clarified that Coinbase was merely looking for the most effective method to include the L2 solution. Considering the most recent information, the exchange may have discovered the solution in Lightspark.

Shan Aggarwal, Vice President of Corporate and Business Development at Coinbase, emphasized that the exchange is committed to enhancing the speed and efficiency of the global financial system, as the integration is rapidly approaching reality.

Coinbase stands to gain a significant amount from Lighspark’s scalable and well-optimized node infrastructure, which provides a wide range of functionalities through an interface that is both straightforward and easy to understand. 

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