This partnership introduces quick, low-cost Bitcoin transactions on Coinbase through the Lightning Network.
This game-changing move addresses the slow and expensive Bitcoin transactions in the crypto space.
Revolutionizing Bitcoin Transactions with Lightspark & Coinbase
The Bitcoin Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain. It enables faster and cheaper transactions by allowing users to open payment channels between any two parties on that channel. However, complexity and reliability issues have hindered the widespread adoption of Lightning nodes. That’s why Lightspark’s involvement comes as a pivotal solution to these challenges.
Lightspark has taken significant strides in removing the intricacies associated with the Lightning Network. Lightspark simplifies Lightning Network integration with SDKs, APIs, and developer tools. This benefits platforms like Coinbase, offering advanced crypto transactions without backend complexity.
We're excited to share that @Coinbase has selected @Lightspark to bring the Lightning Network to all its customers, promising near-instant, cheaper Bitcoin transactions. Read more here: https://t.co/PaxyhKMZtv pic.twitter.com/MoEENtjElm
— Lightspark (@lightspark) April 3, 2024
Moreover, Lightspark introduces an innovative AI-based smart engine, Lightspark Predict. This engine optimizes liquidity and routing, ensuring fast and successful transactions across the network. This optimization is crucial for Lightning Network transactions, making it attractive for Coinbase
According to Lightspark, Coinbase will be utilizing Lightspark’s remote-key signing implementation. This means that while the Lightning signing keys will be entirely held by Coinbase, ensuring a high level of security, Lightspark will host their Lightning node. This arrangement allows for a balance between control and convenience, giving Coinbase the security of managing its keys while leveraging Lightspark’s expertise in node management.
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