Coinbase chooses Lightspark for Bitcoin Lightning Network

Coinbase, a large and impactful industry leader, has chosen Lightspark to enable the Bitcoin Lightning Network on its platform, adding yet another feather to the company’s cap. Lightspark is amid technological integration with assistance from the Coinbase team. This coordinated effort results in instant and cheaper fund transfers for the company’s customers. However, this also indicates the significant prospect of many additional joint projects between Coinbase and Lightspark, which would eventually benefit Coinbase’s consumers.

For the past two years, the Lightspark team has worked diligently to build its platform to be the market’s leading entry point for organizations seeking to join the Lightning Network. Using Lightspark’s strong software and cutting-edge services, even the most demanding businesses can securely connect to the Lightning Network to perform cost-effective Bitcoin transfers and transactions in near-real time.

Lightspark has greatly simplified the process of implementing and managing a Lightning node, as well as sending and receiving trustworthy transactions. Whether it’s Lightspark’s APIs, SDKs, and developer tools that allow for seamless Lightning Network integration, or its smart engine, the AI-supported Lightspark Predict, which primes routing and transactions in real-time, it appears that Lightspark has done everything technically possible to achieve high success rates and finality times for payment delivery, regardless of network. 

Further liquidity in Bitcoin will be made possible by the integration in the near future, opening the door for other payment use cases of this kind. Bitcoin will be able to convert between fiat money and other cryptocurrencies.

Shan Aggarwal, VP of Corporate & Business Development at Coinbase, says the company is committed to making the global financial system faster and more efficient. Additionally, he shows optimism in working with Lightspark to promote the Bitcoin Lightning network in order to remove payment obstacles and enable faster and less expensive Bitcoin transactions.

For the uninitiated, Coinbase seeks to achieve economic independence by redesigning the traditional financial system and transforming it into a dependable platform where people and institutions may engage and transact in cryptocurrency, thereby unlocking the numerous benefits of crypto for everybody.

Coinbase’s integration with Lightspark enables its engineering, operations, and product teams to focus their efforts on providing the best start-to-finish experiences for their clients, without the added complexity and distraction that would come from managing and optimizing a large Lightning process implementation.

Lightspark’s simple UI will enable Coinbase to move forward with a reliable, scalable, and effective node architecture that can perform various functions. Coinbase will leverage Lightspark’s remote-key signing mechanism and host its Lightning node to understand how the firms are driving the integration. Coinbase, on the other hand, will retain complete control over the Lightning signing keys. Lightning will significantly affect network utilization overall since it lights up all Coinbase touchpoints, particularly at this crucial moment when both Bitcoin and Bitcoin L1 fees are rising.  

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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