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

Market

Semafor The US Department of Justice is considering fraud charges against Binance, but is concerned about a FTX-style run in the market.

Insiders say that federal prosecutors are concerned that if they were to prosecute Binance, it could lead to a run on...

DeFi

Postponed Fraud Trial of Mango Markets Exploiter: A Delayed Showdown

Fashion executive, Avraham Eisenberg, accused of a $116 million fraud at Mango Market, will face trial on April 8, 20...

Blockchain

Coinbase's effect on the currency is not strong, mainly because the market is at work.

Coinbase is one of the most influential compliance exchanges in the world, providing multiple French currency channel...

Bitcoin

Restoring the entire process of asset transfer: $6.02 million stolen from the DragonEX exchange

In the early morning of March 24th, Beijing time, the DragonEX exchange issued a notice stating that its platform dig...

Blockchain

Witness history! Bitcoin plunges sentient beings: mining circle under pressure, exchange shuffled

Author: Liu four red Source: BBT Fintech Circle Editor's Note: This article has been deleted without altering th...

Blockchain

Can the combination of decentralized derivative exchanges and account abstraction open up the next incremental entry point?

How much will the target audience expand if decentralized contract exchanges can be logged in using Google accounts?