The integration of the Lightning Network layer for Bitcoin transactions on Binance was finalized. It was news that was highly anticipated by users. Because?
Binance reported that it was finally able to integrate Lightning Networklayer 2 of Bitcoin for transactions on its platform, after several months of development. The exchange had promised to do so in May, due to the increase in commissions caused by network congestion, but it finally materialized this Sunday.
“Bitcoin (BTC) deposits and withdrawals are now open at Lightning Networkreported Binance. This andIt was a long-awaited possibility for exchange users, since the second layer of Bitcoin It came out about five years ago.
And this wait is due to the fact that, after the implementation, users will be able to access the option “BTC-Lightning” when depositing the cryptocurrencyin addition to being able to continue making use of the usual options of BitcoinBEP-20 and SegWit, among others.
The specialized site Cryptocity indicates that “Lightning Network is a Layer 2 scalability solution for the bitcoin blockchain, that provides cheaper and faster transactions”. It works by creating off-chain transaction channels, which are then added to the main chain.
Source: Ambito
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