LightsparkThe team, headed by former PayPal President David Marcus as CEO, was established. selected Coinbase is the biggest cryptocurrency exchange in the US. They have integrated Bitcoin Lightning Network on their platform. This integration is set to enable Coinbase customers to conduct instant and cost-effective bitcoin transactions.
We are thrilled to announce this @Coinbase Select @Lightspark To enable, #Bitcoin Lightning Network’s platform and services. Lightning has reached another important milestone! ⚡Soon, we will be adding 100+ new countries and millions of people! https://t.co/Dj5JDqdmOl
— David Marcus (@davidmarcus) April 3, 2024
“Coinbase is committed to making the global financial system faster and more efficient,” said Shan Aggarwal, VP of Corporate & Business Development. “We’re excited to partner with Lightspark to eliminate payment barriers and enable faster and cheaper Bitcoin transactions through support for the Bitcoin Lightning Network.”
Lightspark is a company that has spent two years building a platform for institutional clients looking to make Bitcoin transactions more reliable. Lightspark’s services, including SDKs APIs and developer tools are included in the integration with Coinbase. This simplifies the process of setting up and maintaining Lightning nodes.
Lightspark’s implementation of remote-key signature is a key component to the integration. Coinbase will hold the Lightning keys, while Lightspark will host the Lightning node. This set-up aims to provide scalability and reliability of the node infrastructure while allowing Coinbase focus on user experience without worrying about managing a large Lightning implementation.
“It was a pleasure to get to know David and the entire team at Lightspark,” said Coinbase Protocol Specialist, Viktor Bunin. “They’ve built great tech, are great to work with, and we’re excited to partner with them to launch Lightning support soon™.”
This official announcement is almost one year since Coinbase CEO Brian Armstrong committed Lightning Network integration on exchange. Integration is coming now at an important time due to the growing demand for Bitcoin transactions in light of rising Bitcoin fees and prices. Coinbase facilitates The platform has surpassed $154 billion of volume in a quarter and now offers its users the ability to make cheap, efficient Bitcoin payments to further increase scalability.
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Source: bitcoinmagazine.com
