- Users of Coinbase would supposedly benefit from faster and cheaper Bitcoin transactions.
- Lightspark has managed to establish itself as a market-ready enterprise-grade gateway.
Crypto exchange Coinbase has partnered with the open-source protocol Lightspark to provide its users a Layer-2 solution for the Bitcoin network. Users of Coinbase would supposedly benefit from faster and cheaper Bitcoin transactions in the future as a result of this strategic alliance.
To enable inexpensive and quick transactions across a network of participants, the Bitcoin Lightning Network is built as a decentralized network that uses smart contract capability on the blockchain.
Lightspark stated:
“Coinbase customers will benefit from instant, cheaper transfers, and this integration will pave the way for more collaboration between the companies in the months and years to come.”
Complexity Solved
Lightspark has managed to establish itself as a market-ready enterprise-grade gateway to the Lightning Network during the years. Also, the company claims that even the most picky businesses may have a “taste” of the Lightning Network via its carefully selected software and services.
Furthermore, claiming to have solved the complexity of using a Lightning solution, Lighspark is allowing developers in the Coinbase ecosystem to create without any worries. Reason being, the majority of the challenges associated with setting up and administering a Lightning node and reliably transmitting and receiving transactions have been resolved.
This was made possible by a number of Lightspark products, such as Lightspark SDKs, APIs, and even Lightspark Predict, an AI-based tool.
Moreover, Coinbase CEO Brian Armstrong was reportedly questioned by former X CEO and Bitcoin advocate Jack Dorsey about why his exchange seemed to be ignoring the Bitcoin Lightning Network. Armstrong responded by making it clear that Coinbase was only looking for the optimal way to include the L2 solution.
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