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Cryptocurrency exchange Binance has announced that it has successfully integrated bitcoin (BTC) on the Lightning Network, enabling the use of a layer-2 scalping solution for bitcoin withdrawals and deposits.
binance Confirmed News in a July 17 blog post, where he explained that Binance users can now access their BTC deposit addresses on the Lightning Network.
#binance Has completed the integration of bitcoin ( #B T c ) Further deposits and withdrawals are now open on the Lightning Network.
more details here https://t.co/aIofPdtAGY
— Binance (@binance) 17 July 2023
Binance first hinted at Lightning Network integration in May, when it had to temporarily halt BTC withdrawals due to a large number of pending transactions due to an increase in Ordinals inscriptions.
Soon after users spotted Binance’s own Lightning nodes, Binance later confirmed that it is working to onboard the Lightning Network on June 20.
Connected: What is bitcoin lightning network and how does it work?
The Lightning Network aims to make bitcoin transactions faster and cheaper by allowing users to create off-chain transaction channels.
BinanceでLightning compatibleぞぞぞ
Learn about Binance#bitcoin#lightningnetwork #binance pic.twitter.com/xSFMx5GttX
— crypto (@positivebitcoin) 17 July 2023
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This is a developing story, and more information will be added as it becomes available.
