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Coinbase CEO says Bitcoin Lightning is ‘something we’ll integrate’

Coinbase CEO says Bitcoin Lightning is 'something we’ll integrate'

Bitcoin (BTC) layer 2 scaling solution Lightning could be integrated into the cryptocurrency exchange Coinbase, according to CEO Brian Armstrong. Armstrong responded to a tweet criticizing him for “actively ignoring” the network by stating in a tweet on April 8 that “Lightning is great and something we’ll integrate.” No further information was provided on what the integration would involve or when it could be implemented. Coinbase has previously been criticized, along with Binance and FTX, for failing to integrate Lightning, which allows for faster and cheaper BTC transactions than the Bitcoin base network.

According to a GitHub repository by Lightning enthusiast David Coen, if Armstrong follows through on his promise, Coinbase would join Bitfinex, Kraken and OKX as the largest trading platforms to have integrated Lightning. Coen had previously suggested that Lightning integration may go against the business plans of many of these trading platforms, “since the priority seems to be to integrate as many altcoins as possible and follow the trends of the market.”

Armstrong recently tested out a Lightning network application and sent Cointelegraph reporter Joseph Hall $100 in BTC after Hall shared a video of himself using Bitcoin in Senegal. The $100 was a prize for those who shared the “best” examples of how people are using crypto in Africa. Hall has yet to receive the payment, prompting some commentators to suggest that Armstrong needs a lesson on Lightning.

Coinbase launched “Base” on Feb 23, an Ethereum layer 2 application-focused network powered by fellow layer 2 Optimism. In a January 2016 article titled “Scaling Bitcoin,” Armstrong expressed support for scaling solutions for Bitcoin, stating “We also did it to show our support for scaling Bitcoin, and encourage things to move forward, since we’d like to see a solution sooner rather than later.” Lightning was launched about two years later in March 2018, with last month marking the fifth anniversary of the network.

CoinTelegraph contacted Coinbase for comment but did not receive an immediate response.