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Bitcoin Lightning Network Payments Hit Bitfinex in Industry First

 

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    Crypto

    Bitcoin Lightning Network Payments Hit Bitfinex in Industry First

    Cryptocurrency change Bitfinex has revealed the primary of two main upgrades it says will fully change person funds and spending habits. 

    In a tweet on Dec. 2, the platform’s CTO, Paolo Ardoino, confirmed that as of Tuesday, it could help Bitcoin (BTC) transactions on the Lightning Network (LN).

    The transfer is a primary for a significant cryptocurrency change, Bitfinex saying it by way of its updates mailing checklist.

    Exchange eyes free and prompt BTC funds

    Users will profit from prompt transactions and pays nearly zero charges to ship funds by way of Lightning. The reveal seems to correspond to the primary of two thriller “integrations” Bitfinex introduced on its web site final month. 

    “Once this feature is unlocked, crypto transactions will never be the same again,” its description reads.

    The second enchancment stays unknown however seems to give attention to spending, fairly than exchanging cryptocurrency. 

    “When this feature is live, the way you spend crypto will change forever,” Bitfinex guarantees. 

    Lightning inches into mainstream

    Lightning has been practical on the Bitcoin mainnet because the begin of 2018. Designed to enhance Bitcoin community capability, the software has obtained high-profile backing from the likes of Twitter CEO, Jack Dorsey, and others. 

    At the identical time, its use stays reserved for the technically minded, as its nascent state makes it unsuitable for novice crypto traders.

    Commenting on Bitfinex’s determination, Ardoino was clear about his preferences for Bitcoin scaling: 

    “LN and LN assets are not only the best P2P micro-payments solution, but an impressive settlement layer for B2B.”

    Lightning firm Bitrefill confirmed it could help Bitfinex with deposits and withdrawals.

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