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Coinbase Launches Bitcoin Lightning Network for Faster, Cheaper Transactions

Apr 30, 2024, 02:10 PM

Coinbase has officially launched support for the Bitcoin Lightning Network, a significant development in cryptocurrency transactions. This integration, powered by Lightspark, enables Coinbase users to conduct instant, low-cost Bitcoin transfers. The Lightning Network, a Layer 2 solution initially conceptualized in a white paper eight years ago, aims to enhance the scalability of Bitcoin transactions by reducing fees and processing times. Coinbase's rollout of this feature marks a milestone in bringing faster and cheaper transactions to its 56 million users across over 100 countries. The service also introduces a maximum withdrawal limit of $2,000 at launch.