Coinbase integrates Bitcoin Lightning NetworkCoinbase has announced the integration of the Bitcoin Lightning Network, enabling faster and cheaper Bitcoin transactions.
According to Coinbase’s blog, as of Tuesday, users can access this feature on mobile and desktop platforms and send Bitcoin via the traditional Bitcoin network or the Lightning Network.
The Lightning Network, a layer 2 protocol established in 2018, facilitates transactions off the main Bitcoin blockchain, enhancing speed and reducing costs. Coinbase’s adoption of this technology was supported by Los Angeles-based Lightspark, which was founded in 2022 and specializes in enterprise-grade Lightning Network services.
“Customers will be interacting with Lightning out of our retail exchange, and that is custodial, in the same way that you custody Bitcoin and other assets with Coinbase,” said Viktor Bunin, a protocol specialist and Lightning integration lead at Coinbase. “Customers don’t have to run a node, or manage a channel, or worry about liquidity.”
Bunin detailed the reasons for choosing Lightspark, pointing out its extensive experience implementing large-scale Lightning solutions for businesses and their adherence to stringent security standards. The integration lead also mentioned the importance of Lightspark’s non-custodial services and its ongoing dedication to developing the Lightning ecosystem.
