Coinbase plans to integrate the Bitcoin Lightning Network through its recently announced partnership with Lightspark. In fact, Lightspark has announced a collaboration that will bring the network to Coinbase's vast and expansive user base.
Lightspark said it was excited to be “bringing one of the industry's most influential and important companies to the lighting industry at the perfect time.” Additionally, they expressed the notable benefits that Coinbase users will gain through the impending integration. At the same time, he also mentioned the importance of this partnership, which is a milestone for the entire industry.
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Coinbase partners with Lightspark for Bitcoin Lightning integration
Over the last year, the digital asset market has reached incredible highs. Specifically, we observed that the U.S. Securities and Exchange Commission (SEC) granted approval for the first spot Bitcoin ETF in January. Moreover, it led to a surge in the price of BTC, reaching $73,000 in March.
These important developments are far from over, as Coinbase recently announced the integration of the Bitcoin Lightning Network through its Lightspark partnership. In fact, the latter has revealed a collaboration that will allow Coinbase users to enjoy all the benefits available from the Bitcoin Layer 2 network.
Also read: Coinbase trading volume outside the US surpasses $1 billion
The Bitcoin Lightning Network allows individuals to make cost-effective and fast BTC transactions. This happens when transactions are moved off the main blockchain. Therefore, offloading transaction traffic on the core Bitcoin network can be performed faster and with less congestion.
Lightspark says it has been working for nearly two years to “build our platform as the best enterprise-grade entry point to lighting networks on the market.” However, this development is also set to benefit his entire Bitcion Lightning network. In fact, the announcement states, this consolidation will “impact overall network usage when it's needed most.”
