Coinbase now supports Lightning Network
Coinbase now supports Lightning Network
Crypto

Coinbase now supports Lightning Network

By Alfredo de Candia - 27 Jun 2019

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As Bitrefill reports, from now on users of the Coinbase exchange will be able to use the Lighting Network on their accounts.

This integration has been made possible by the Bitrefill service, Thor Lightning, an easy and fast service that gives access to the second layer payment network, that is Lightning Network. In practice, Thor Lightning automatically opens a payment channel that connects directly to the Bitrefill Lighting Network node.

In addition, Bitrefill has also launched Thor Turbo, the first product that allows users to avoid waiting for on-chain confirmation.

Furthermore, Bitrefill allows the use of some APIs, the ThorAPI, that exchanges can use to integrate Lightning directly into their platforms.

Bitrefill’s COO, John Carvalho, explained:

“We chose to demonstrate this new service by utilizing our pre-existing integration with Coinbase’s API for accounts to show how Bitrefill allows any crypto platform in the world to provide access to the Lightning Network whether they currently support Lightning technology internally or not. Lightning is about to allow exchanges to collaborate on instantly moving BTC over Lightning and to coordinate on the liquidity needed to make that possible. Soon, you will see major exchanges opening fat or wumbo channels with each other and with Bitrefill to unleash the power of Lightning even further”.

As the data show, there are currently over 8,000 Bitcoin nodes on the Lightning Network with over 34,000 channels and a current capacity of 944 Bitcoin (BTC).

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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