Binance, the largest cryptocurrency exchange by volume traded, has announced it has completed the integration of the Lightning Network, a BTC scaling layer, on its platform. Now users can execute bitcoin deposits and withdrawals using the network, taking advantage of lower fees.
Binance Completes Integration of Lightning Network
Binance recently announced the completion of its integration of Lightning Network, a scaling layer for the Bitcoin blockchain. The exchange informed about these new capabilities on July 17, explaining that users can now deposit and withdraw bitcoin from Binance using this new option.
The Lightning Network allows users to accelerate the speed of their transactions to and from the exchange, given that there is no need for waiting for transactions as when using Bitcoin in its base layer. Also, the fees for Lightning Network transactions are cheaper than Layer 1-based transactions. This difference is especially notable in times of high congestion on the BTC base la
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