OKEx to accelerate Bitcoin transactions with Lightning Network
As Lightning Labs continues to expand the Lightning Network’s capabilities, another major exchange announces its plans to integrate. Global cryptocurrency exchange OKEx is moving to cheaper and faster Bitcoin (BTC) transactions with its upcoming Lightning Network integration.According to a Tuesday announcement, OKEx’s Bitcoin Lightning Network will be integrated “in the coming quarter,” making OKEx a participant node in the Lightning Network.The integration will allow OKEx users to select the Lightning Network option when depositing and withdrawing BTC, intending to decrease transaction....
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The leading global crypto exchange and derivatives trading platform OKEx recently announced support for Bitcoin’s scalability solution, Lightning Network. Regarding the new development, we had the opportunity to interact with Jay Hao, CEO of OKEx and the Lightning Network (LN) team. We asked them few questions and this is what they had to say. Q: […]
OKEx has announced that it has integrated Bitcoin’s Lightning Network, allowing users to send and receive bitcoin in near real-time at almost no cost.
People who run Lightning Network nodes can charge fees to process transactions through their Lightning channels, thus earning small amounts of BTC. For instance, depending on network activity, a single Lightning node could route $10,000 worth of transactions per month and receive a 0.25 percent fee ...
Cash App mentions that the Lightning Network feature is not available to users located in New York. Mobile payment service Cash App revealed that Lightning Network can now be used to transfer Bitcoin (BTC) through its app. With the new feature, its users can send their BTC to any Lightning or on-chain BTC address.Lightning Network is now available on Cash App. It's the fastest, free way to pay anyone in bitcoin. Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6— Cash App (@CashApp) February 7,....
Lightning networks are considered a promising innovation in the Bitcoin space, which would make the Bitcoin system much more scalable and able to process transactions at a high rate and low cost, and are suitable as an alternative to existing payment networks. In February, developers Joseph Poon and Thaddeus Dryja proposed a decentralized Bitcoin Lightning Network where related transactions can take place instantly on "micropayment channels" off-chain, and only the final settlement is processed by the blockchain. According to the authors, lightning networks would enable Bitcoin....