Binance completes integration of Bitcoin Lightning Network

Screenshot showing users can pick “LIGHTNING” as an option when depositing Bitcoin.” The explosion in transaction charges has mainly been attributed to the production of memecoins on Bitcoin in the form of BRC-20 tokens– a brand-new token requirement on the network. #Binance has actually completed the combination of Bitcoin (#BTC) on the Lightning Network and withdrawals and deposits are now open.

Binance later on verified it was working to onboard the Lightning Network on June 20 shortly after users found Binances own Lightning nodes. Related: What is the Bitcoin Lightning Network, and how does it work?Binance joins Bitfinex, River Financial, OKX, Kraken and CoinCorner as the other popular exchanges to have actually accepted the Lightning Network.Coinbase CEO Brian Armstrong likewise signified his intent to integrate the Bitcoin layer 2 network on Coinbase in April. However, he didnt offer a timeline as to when that may happen.The Lightning Network intends to make Bitcoin transactions much faster and less expensive by permitting users to produce off-chain deal channels.Magazine: Bitcoin 2023 in Miami concerns grips with shitcoins on Bitcoin