Binance Finalize BTC Lightning Network Integration
Binance, the world’s largest cryptocurrency exchange by trading volume, revealed today that it has finished integrating the Lightning Network, the popular scaling solution that runs on top of the Bitcoin blockchain.
Binance users can now use the Layer-2 scaling solution for Bitcoin withdrawals and deposits, according to a company announcement on Monday. Users must pick the “BTC-Lightning” network when depositing or withdrawing Bitcoin from the exchange to use the new feature.
Binance announced last month that it was in the process of introducing Lightning nodes into its infrastructure.
The exchange first announced its desire to offer Lightning withdrawals in May, following a period of increased congestion on the Bitcoin network that forced Binance to briefly prohibit BTC withdrawals.
(With inputs from Shikha Singh)
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