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Bitcoin (BTC) layer 2 scaling solution Lightning may be incorporated into the cryptocurrency exchange Coinbase in some form, as indicated by its CEO, Brian Armstrong.
In a tweet dated April 8, Armstrong remarked that “Lightning is great and something we’ll integrate” in reply to a tweet that criticized him for “actively ignoring” the network.
My tweets auto-delete after some number of months, so there is no search history.
Lightning is great and something we’ll integrate.— Brian Armstrong (@brian_armstrong) April 8, 2023
Armstrong did not provide additional specifics regarding what a Lightning integration with Coinbase would entail or when it might occur.
In the past, Coinbase, along with Binance and the now-defunct FTX, has faced criticism for not adopting the Lightning network, which facilitates quicker and more affordable BTC transactions compared to the Bitcoin base network.
As per a GitHub repository by Lightning advocate David Coen, if Armstrong follows through on his statement, Coinbase would join Bitfinex, Kraken, and OKX as major trading platforms that have integrated Lightning.
Coen had earlier indicated that integrating Lightning might conflict with the business strategies of many trading platforms, “since the priority seems to be to integrate as many altcoins as possible and follow the trends of the market.”
Armstrong claims to have recently tested a Lightning network application, sending Cointelegraph reporter Joseph Hall $100 in BTC after Hall posted a video of himself using Bitcoin in Senegal.
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The $100 was a reward from Armstrong for those who shared the “best” examples of crypto usage in Africa. Hall mentioned he would distribute the funds to help onboard others to Bitcoin.
Here is a video of me using #Bitcoin in Africa
I used #lightning for instant, free payments. Does Coinbase Wallet have lightning? ⚡️
#BitcoinAfrica > #CryptoAfrica pic.twitter.com/1Syz71swR4— Joe Nakamoto (@JoeNakamoto) April 7, 2023
However, Hall reported that he has not yet received the payment, leading Bitcoiner Derek Ross to suggest that Armstrong “needs a lesson on Lightning.”
Recently, Coinbase has been more engaged in the Ethereum ecosystem, having launched “Base” on February 23 — an Ethereum layer 2 application-focused network powered by the layer 2 solution Optimism.
Related: Bitcoin Lightning Network growth is organic, coming from real-world adoption
Notably, Armstrong authored a “Scaling Bitcoin” article in January 2016, where he expressed his support for Bitcoin scaling solutions:
“We also did it to show our support for scaling Bitcoin, and encourage things to move forward, since we’d like to see a solution sooner rather than later.”
Lightning was introduced approximately two years later in March 2018, with last month marking the network’s fifth anniversary.
Cointelegraph reached out to Coinbase for a comment but did not receive an immediate reply.
Magazine: Bitcoin in Senegal: Why is this African country using BTC?
