tl;dr
Coinbase is introducing support for the Bitcoin Lightning Network on its mobile and desktop platforms, allowing users to choose between sending Bitcoin via the mainnet or the Lightning Network. This integration is facilitated by Los Angeles-based Lightspark, a non-custodial integration partner. User...
Coinbase is introducing support for the Bitcoin Lightning Network on its mobile and desktop platforms, allowing users to choose between sending Bitcoin via the mainnet or the Lightning Network. This integration is facilitated by Los Angeles-based Lightspark, a non-custodial integration partner.
Users interested in using the Lightning Network can switch between Bitcoin Core and the Lightning Network when sending Bitcoin, without needing to manage a node or worry about liquidity. While the Lightning Network option is available to U.S.-based customers, it is not currently accessible to Canadian and New York residents.
Progressively available on both its mobile and desktop platforms, Coinbase users will be able to choose between sending Bitcoin using the Bitcoin mainnet or the Lightning Network. Launched in 2018, the Lightning Network is a layer-2 protocol built on top of the Bitcoin network. The Lighting Network allows users to move BTC between wallets without needing to interact directly with the Bitcoin blockchain.
"There are a couple of considerations that we had in mind when determining the best way to add Lighting support," Coinbase protocol specialist Viktor Bunin told Decrypt. "The first thing is that we decided to use a non-custodial integration partner, because when you look at Lightning’s design, it does have this optimization component."
According to Bunin, while the Lighting Network option is available to U.S.-based customers, Canadian and New York residents will not be able to take advantage of the Lightning Network function for now. Coinbase has meanwhile been locked in a legal battle with the U.S. Securities and Exchange Commission and has supported political campaigns in favor of crypto.
Looking to swing Congress in crypto’s favor, Coinbase has supported political campaigns aimed at the 2024 U.S. elections. In February, a Coinbase-backed SuperPAC called Fairshake PAC launched a massive ad campaign targeting U.S. Senate candidate Katie Porter, an ally of longtime crypto critic U.S. Senator Elizabeth Warren.
Editor's note: This story was updated after publication to clarify that the Lightning Network support is being rolled out progressively, rather than immediately for all U.S. users.
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