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There will be an integration of the Bitcoin’s Lightning Network in 2021 by Kraken Exchange

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Crypto Business World

CBW -External Analyst

INDIA

Dec, 22 2020

Dec, 22 2020

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The new technologies shall soon become the oldest exchanges of Bitcoin. Well, we are here talking about the Kraken exchange which has recently come up with an announcement. As per the reports, it is believed that Kraken shall be adding support for the lightning network in the year 2021. This will add up to the small list of exchanges that shall further support the technology of the scaling so far. Kraken is even hiring the team for managing the features. This further will be in anticipation and be open for the clients who use the first half of 2021 for some time.


The lightning network has grown to another level where Kraken can use it. It really is more like what users have been looking out for. They wish to make the efficient payment and that too quickly. The ability for depositing and withdrawing the Bitcoin will include no more confirmation messages and without any additional changes to be paid. The Kraken shall be anticipating the fact of the traders who wish to look for the arbitrage chances within the exchanges.


With regards to the lightening maturity aspects, Kraken has been quite comfortable to support the technology. According to Rochard, the two lightning tech will be an advancement example in 20202. There were multi-path payment options, wubmo channels, and even the integration paved method that shall make transactions simple and easy to understand. “API-first launch will be the first rollout that would allow the withdrawal to be made without any exchanges. Further, Rochard also stated that the exchange would even let the users get the easy payment channels set up done with the exchanges directly.


For those who are not really aware of what exactly is Bitcoin Lightning Network, well it is a technical innovation that lets the user send the Bitcoin at a faster pace and in a cost-friendly manner as compared to the primary network of Bitcoin.


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Crypto Business World

CBW - External Analyst

INDIA

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