Binance, one of the world’s largest crypto exchanges, has announced plans to upgrade to the Bitcoin Lightning Network (LN) following a surge in Bitcoin transaction fees. In a tweet, the platform said it would work to “enable BTC Lightning Network withdrawals, which will help in such situations”. The LN is a cheap, near-instant payment system built on top of Bitcoin that remains unaffected when the Bitcoin mempool, where transactions waiting to be confirmed are collated, is full or busy. Other major exchanges, including Bitfinex, Kraken and Coinbase, are also integrating the LN. However, payment failures can occur and liquidity is vital to facilitate scaling.
About the author - Jean-Simon Tremblay
Algorithmic crypto trader. I provide trading signals on Zignaly and trading tools/strategies on my website. View full profile...
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