Binance Successfully Integrates Bitcoin Lightning Network For Improved Transactions
Binance, the worldwide leading cryptocurrency exchange by volume of trade, revealed today that it has finished integrating the Lightning Network, the popular scaling solution that runs on top of the Bitcoin blockchain. Binance subscribers are permitted to use the Layer-2 scaling solution for Bitcoin withdrawals and deposits, according to an organization announcement on Monday. Users must pick the "BTC-Lightning" network when making deposits or withdrawing Bitcoin from the exchange to use the newly introduced function. Binance announced a few weeks ago that the company was currently 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. During that time, the Bitcoin mempool, which stores pending transactions, had almost 420,000 unprocessed operations, surpassin...