|

Crypto News

Coinbase Partners With Lightspark To Integrate Bitcoin Lightning Payments

Author

Rickie Sanchez

Tags

Tags Editor's Choice / Slider Posts

Reading time

1 min
Last update

Author

Rickie Sanchez

Tags

Editor's Choice / Slider Posts

Reading time

1 min
Last update

Author

Rickie Sanchez

Tags

Editor's Choice, Slider Posts

Reading time

1 min
Last update


lightspark

Join our growing community


Key Takeaways

  • Coinbase has partnered with Lightspark, led by former PayPal president David Marcus, to integrate Bitcoin Lightning payments on its platform.
  • This will allow Coinbase’s user base of 108 million to benefit from faster and cheaper Bitcoin transactions.
  • Offloading transaction activity to Bitcoin’s second layer aims to address the recent fee increase on Bitcoin’s base layer.

Coinbase is teaming up with Lightspark to bring the Lightning Network to its platform. This will allow users to make Bitcoin transactions much faster and for significantly lower fees.

Coinbase To Integrate The Lightning Network

In 2023, Coinbase CEO Brian Armstrong initially faced criticism from Jack Dorsey, the former CEO of X, for not integrating the Lightning Network sooner. Armstrong responded by highlighting their focus on finding the best implementation for their platform. Eight months later, Coinbase announced a solution they believed would achieve that goal.

What Is The Lightning Network?

The Lightning Network is an additional layer built on top of the Bitcoin blockchain. It addresses some of Bitcoin’s limitations, specifically around scalability and transaction speeds. The Lightning Network can handle payments much faster and at a lower cost, making it suitable for micropayments that wouldn’t be practical on the main blockchain.