spark of lightled by CEO David Marcus, former president of PayPal, has been selected by Coinbase, the largest US cryptocurrency exchange, to integrate the Bitcoin Lightning Network into its platform. This integration is set to allow Coinbase customers to make instant and profitable bitcoin transactions.
Delighted to announce that @Coinbase has selected @luzparque to allow the #Bitcoin Lightning Network across its platform and services. Another major milestone for Lightning! โกto many millions of new people and over 100 countries coming soon! https://t.co/Dj5JDqdmOl
โ David Marcos (@davidmarcus) April 3, 2024
โCoinbase is committed to making the global financial system faster and more efficient,โ said Shan Aggarwal, Vice President of Corporate and Business Development. โWe are excited to partner with Lightspark to remove payment barriers and enable faster and cheaper Bitcoin transactions through Bitcoin Lightning Network support.โ
Lightspark has spent nearly two years developing its platform as a premier entry point to the Lightning Network, serving the needs of institutional clients seeking reliable and efficient solutions for Bitcoin transactions. The integration with Coinbase includes Lightspark's sophisticated tools and services, such as SDKs, APIs, and developer tools, which simplify the process of deploying and managing Lightning nodes.
A key aspect of the integration is Lightspark's remote key signing implementation, where Coinbase holds the Lightning signing keys while Lightspark hosts the Lightning node. This setup is intended to ensure scalability, reliability, and optimization of the node infrastructure, allowing Coinbase to focus on delivering exceptional user experiences without the complexities of managing a large-scale Lightning deployment.
"It was a pleasure meeting David and the entire Lightspark team." saying Coinbase protocol specialist, Viktor Bunin. "They've created great technology, they're great to work with, and we're excited to partner with them to launch Lightningโข support soon."
Today's official announcement comes almost a year after Coinbase CEO Brian Armstrong. engaged to integrate Lightning Network into the exchange. The integration now comes at a crucial time, considering the growing demand for efficient Bitcoin transactions amid rising Bitcoin prices and transaction fees. Coinbase facilitates A significant quarterly volume of $154 billion was traded on its platform and it will now provide its clients with access to cheap and efficient Bitcoin transactions to help further improve scalability.
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