Lightning Network receives support from Bitfinex exchange, stablecoin will be ushered in next step

In the past year, the Layer 2 protocol Lightning Network has encountered a lot of trouble, and with the continuous improvement work, it has welcomed the support of the first mainstream exchange today.

On December 3, Beijing time, the digital asset exchange Bitfinex announced that it will support Lightning Network deposit and withdrawal from tomorrow.

Bitolox CTO and Tether CTO Paolo Ardoino mentioned that he hopes that users will be able to open the Lightning Network channel, and he promised that there will be a link page tomorrow.

5

It is reported that the company also plans to introduce the stablecoin USDT and Tether Gold to the Lightning Network.

As early as June of this year, Ardoino mentioned that Bitfinex will launch stablecoin on the Lightning Network by the end of this year. At that time, the Bitfinex team was working on deploying Tether on the Liquid sidechain to deliver assets on the Lightning Network .

In November, Bitfinex also added support for the Bech32 address format, and this step is exactly the way to support the Lightning Network.

Ardoino expressed in an interview:

"We really like Lightning Network (I personally do a lot), so we want to contribute to it."

The Lightning Network is a second-tier payment protocol. It is based on the Layer 1 blockchain (such as Bitcoin). The purpose of this protocol is to accelerate transactions between participating nodes. It is also promoted as a solution to Bitcoin's challenges. The main path to scalability issues.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

"Japan Amazon" Lotte launches cryptocurrency transaction service

"Japan Amazon" – Lotte, announced on August 19 that it will launch its new encryption trading platfor...

Blockchain

Exchange Real Volume Report (on) | TokenInsight

Summary of points: 1. According to the report, 36% of the exchanges (11) have a real trading volume ratio higher than...

Blockchain

Interview with Justin Sun: Web3 Yu'ebao stUSDT, Tron's Ambition to Connect DeFi and TradFi

stUSDT allows users to access low-risk and stable investment opportunities in national bonds, and supports flexible w...

Blockchain

Eat Reason Rationally | Who is the real winner of the Steem incident?

Sun Yuchen VS Steem community was the most discussed topic in the industry last week. On February 14, Sun Yuchen comp...

Blockchain

ChainNode Live Room | Derivatives track has become an industry consensus. Bitcoin will be up to $ 20,000 in the year?

Since the beginning of this year, the trading platform has frequently acted, causing one after another "destruct...

Blockchain

Lose user trust? "Black Thursday" has reduced BitMEX bitcoin holdings by nearly 40%

This article Source: Cointelegraph Chinese , Author: MICHAEL KAPILKOV, the original title "from the black since ...