American crypto exchange service provider Coinbase has chosen the open-source protocol Lightspark to bring the Bitcoin Lightning network Layer-2 solution to customers in its ecosystem.

Showcasing The Lightspark Solution

This strategic partnership is billed to bring near-instant, and cheaper Bitcoin transactions to Coinbase users in the long run. 

The Bitcoin Lightning Network is designed as a decentralized network that utilizes smart contract functionality on the blockchain to facilitate fast and cheap transactions across a network of participants. 

“Coinbase customers will benefit from instant, cheaper transfers, and this integration will pave the way for more collaboration between the companies in the months and years to come,” Lightspark wrote in a published report.

Over time, Lightspark has positioned itself as “an enterprise-grade entry point to the Lightning Network on the market”. 

According to the firm, its software and services are curated in a way that it is easy for even the most demanding organizations to have a ‘taste’ of the Lightning Network. Lighspark claims that developers on the Coinbase ecosystem can now build without worrying about the complexities involved in utilizing a Lightning solution.

This is because most of the complexities involved in implementing and managing a Lightning node and sending/receiving transactions reliably have been tackled. Lightspark achieved this feat by leveraging several tools in its arsenal including Lightspark SDKs, APIs, and even an AI-based tool called Lightspark Predict.

Coinbase Finally Lands the “Best” Lightning Network Provider

Former CEO of X, Jack Dorsey once asked Brian Armstrong, the CEO of Coinbase why his crypto exchange seemed to be overlooking the Bitcoin Lightning Network. In response, Armstrong clarified that Coinbase was only seeking the best approach to integrate the L2 solution. 

The latest development suggests that the exchange may have found the approach in Lightspark.

With the integration now poised to be a reality, Shan Aggarwal, Coinbase’s VP of Corporate and Business Development explained that the exchange is committed to improving the speed and efficiency of the global financial system. Markedly, Coinbase stands to benefit from Lighspark’s scalable, and fully optimized node infrastructure that offers a wide range of functionality through a simple and intuitive interface.

The post Breaking: Coinbase To Integrate Bitcoin Lightning Network Via Lightspark appeared first on CoinGape.

---

Filed under: News - @ January 1, 1970 12:00 am