Kraken Announces Lightning Integration

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....

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....

The Lightning Network implementation may be against business plans of some crypto exchanges, or simply not a priority for others, several community members suggested. The Bitcoin Lightning Network integration started to take off among the cryptocurrency exchanges worldwide. However, some of the world’s largest crypto trading platforms seemingly are not in the hurry to integrate the protocol.Last week, Robinhood crypto trading app became the latest major industry player to announce the Lightning integration, following in the footsteps of BitPay and the Kraken crypto exchange.As the main....

In a groundbreaking announcement, Binance, the world’s largest crypto exchange, has successfully completed the integration of the Bitcoin Lightning Network. In a blog post published on Monday, July 17, the exchange announced that deposits and withdrawals for Bitcoin (BTC) are now open on the Lightning Network. This integration marks a significant milestone for the industry […]

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....