Kraken announces Lightning Network integrations for 2021
Kraken will integrate the Lightning Network to support instant Bitcoin transfers and reduced withdrawal fees. Major U.S.-based cryptocurrency exchange Kraken has announced on Wednesday that it will integrate the Bitcoin (BTC) Lightning Network in 2021. Kraken emphasized that the integration will drive significant improvements in speed and fees, claiming Lightning allows Bitcoin “to process millions of transactions per second."Speaking to Cointelegraph, Kraken’s lead Bitcoin strategist Pierre Rochard revealed that Lightning will first be integrated for withdrawals during the first half of....
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Global cryptocurrency exchange Kraken will integrate Lightning Network functionality to improve bitcoin deposit and withdrawal efficiency. The post Kraken Announces Lightning Integration appeared first on Bitcoin Magazine.
Kraken was previously aiming to implement the BItcoin Lightning Network in 2021 after officially announcing the plan in late 2020. Major American cryptocurrency exchange Kraken reportedly started implementing the Bitcoin (BTC) Lightning Network for users a bit later than the firm originally planned.Bitcoin maximalist Mr.Hodl took to Twitter on Wednesday to report that Kraken has implemented the Lightning Network. He attached a screenshot of the supposed new Kraken withdrawal process allowing users to complete a withdrawal request from a Lightning wallet to receive BTC from their....
Kraken customers can now instantly deposit and withdraw bitcoin with nearly no fees through the Lightning Network.
Applications built on top of the Lightning Network allow for micropayments, opening the door for integrations with existing video games and podcasts.
This is huge! Kraken now supports Lightning Network deposits and withdrawals. The suddenly popular second Layer protocol keeps growing and gaining importance. “Finally, traders have an instant and inexpensive way to move bitcoin on and off the platform,” Kraken said in their official announcement. The Lightning Network is much more than that, though. What will happen once Kraken’s extensive clientele tries out Lightning transactions? Will the phenomenal experience change the way they see bitcoin? The second layer solution can process millions of transactions per second and all operations....