Binance, the world's largest cryptocurrency exchange, started the day with the announcement of Bitcoin.
At this point, Binance, stating that the Bitcoin (BTC) integration in the Lightning Network has been completed, made the following statements:
“Binance has completed the Bitcoin (BTC) integration on the Lightning Network.
Deposits and withdrawals for Bitcoin are now open on the Lightning Network.”
#Binance has completed the integration of Bitcoin ( #BTC ) on the Lightning Network and deposits and withdrawals are now open.
More details here 👇https://t.co/aIofPdtAGY
— Binance (@binance) July 17, 2023
With this integration, Binance users will now be able to benefit from the Lightning Network solution for Bitcoin deposits and withdrawals.
As it is known, Binance has been working on integrating the Bitcoin Lightning Network for the past few months.
Because, Binance had to pause withdrawals due to the huge increase in gas fees in Bitcoin transactions after the BRC-20 frenzy that started with the popular meme coin Pepe (PEPE) last May.
After this pause, Binance started working on the Bitcoin Lightning Network integration.
Lightning Network, a layer-2 solution that speeds up Bitcoin transactions, enables users to make BTC transactions faster and cheaper, while addressing issues such as network congestion and transaction delays by increasing Bitcoin's scalability.
*Not investment advice.
