Coinbase is actively working on integrating the Lightning Network (LN), a second-layer scaling mechanism, according to founder and CEO Brian Armstrong. Armstrong stated that bitcoin "is the most important asset in crypto" and that LN integration would take more time.
On schedule to adopt Lightning Network is Coinbase. CEO Brian Armstrong says
The Lightning Network (LN), according to Brian Armstrong, is coming to Coinbase. The information comes after Block CEO Jack Dorsey questioned Armstrong on Twitter about the second-layer technology. "Why do you still disregard Lightning and Bitcoin? Which 'crypto' has a more effective money transmission system, and why? Dorsey enquired. When asked about it, Armstrong replied that his company was considering adopting the LN and emphasized that Coinbase is not ignoring bitcoin.
Armstrong remarked:
Not sure why you believe we are ignoring bitcoin when we have probably onboarded more users than any other company in the world.
Armstrong announced that the LN would be arriving at Coinbase very soon on September 12, 2023. Armstrong remarked on the social media site X, "The team did a great job investigating this, and we've decided to integrate Lightning." "Bitcoin is the most significant asset in the crypto space, and we're thrilled to contribute to making bitcoin transactions quicker and less expensive. Please be patient as integration will take some time.
In addition, over the past few months, the LN has faced a significant deal of criticism. For instance, the Lightning Network, which has been in use for more than seven years, is still regarded as experimental software in 2023. several people think the LN will never scale, and several companies have completely stopped supporting the second layer. Despite the criticisms, LN proponents think that scaling BTC to the general public will depend on the second layer. The LN's capacity peaked in July 2023 and has since decreased by more than 12% from that level.
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