Coinbase chooses Lightspark
Coinbase, the largest cryptocurrency exchange in the United States, has chosen Lightspark to integrate the Bitcoin Lightning Network into its services, enabling fast and inexpensive Bitcoin transactions. Lightspark, led by former PayPal president David Marcus, is on the verge of expanding Lightning's reach to new users in over 100 countries. The partnership aims to speed up Bitcoin transactions and reduce costs, indicating Coinbase's commitment to a more efficient global financial system.
Development of Lightspark
Lightspark has spent nearly two years developing its platform to connect institutional customers to the Lightning Network through various tools and developer resources that make Lightning node adoption and management easier. A highlight of the collaboration is that Lightspark manages the node infrastructure while Coinbase controls the signing keys, enabling a scalable and reliable service without the burden of technical complexities.
Integration of Lightning at Coinbase
Coinbase's efforts to integrate Lightning, announced a year ago by CEO Brian Armstrong, come at a time when there is a growing need for lower-cost Bitcoin transactions due to rising Bitcoin prices and fees. With Coinbase's significant trading volume, this integration addresses an important demand for improved Bitcoin scalability and user experience.
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