Lightning Network Went Live On OKEx Exchange
Maybe some of you don’t know what is Lightning Network and in this article you will get to know about this ecosystem
Lightning Network is a “layer 2” payment protocol that operates on bitcoin. It is intended to enable fast transactions among participating nodes and has been proposed as a solution to the bitcoin scalability problem.
This network offers the following features:
⚡ Instant Payments—Lightning-fast blockchain payments without worrying about block confirmation times.Payment speed measured in milliseconds to seconds.
⚡Scalability—capable of millions to billions of transactions per second across the network. Attaching payment per action/click is now possible without custodians.
⚡Low Cost—Lightning Network allows for exceptionally low fees, which allows for emerging use cases such as instant micropayments.
⚡Cross Blockchains—Cross-chain atomic swaps can occur off-chain instantly with heterogeneous blockchain consensus rules
A while ago, OKEx Exchange the widely used cryptocurrency exchange in the world proudly announced that Lightning Network went live on its platform. OKEx now support BTC Lightning Network enabling much faster and cheaper BTC transfers. OKEx users are now able to use the Lightning Network for both BTC deposits and withdrawals.
By integrating layer 2 solutions like the Lightning Network, OKEx is able to offer an improved trading experience to its users with lower costs and faster transactions, alongside supporting the Bitcoin ecosystem by increasing the number of participating nodes.
ABOUT OKEx
OKEx is an innovative cryptocurrency exchange with advanced financial services. Rely on blockchain technology to provide everything you need for wise trading and investment
ABOUT Lightning Network
Lightning Network is a second layer technology applied to bitcoin that uses micropayment channels to scale its blockchain’s capability to conduct transactions more efficiently. Transactions conducted on lightning networks are faster, less costly, and more readily confirmed than those conducted directly on the bitcoin blockchain. Lightning is a decentralized network using smart contract functionality in the blockchain to enable instant payments across a network of participants.
