CoinTelegraph reported:
Bitcoin (BTC) layer 2 scaling solution Lightning may feature on the cryptocurrency exchange Coinbase in some capacity, according to its CEO, Brian Armstrong.
In a tweet on April 8, Armstrong said that “Lightning is great and something we’ll integrate” in response to a tweet criticizing him for “actively ignoring” the network.
My tweets auto-delete after some number of months, so there is no search history.
Lightning is great and something we’ll integrate.
— Brian Armstrong (@brian_armstrong) April 8, 2023
Armstrong provided no further details on what a Lightning integration with Coinbase would involve or when it could be expected.
Coinbase, along with Binance and the now bankrupt FTX, has been called out in the past for not integrating the Lightning network which enables faster and cheaper BTC transactions than the Bitcoin base network.
According to a GitHub repository by Lightning enthusiast David Coen, Coinbase would join Bitfinex, Kraken and OKX as the largest trading platforms to have integrated Lightning, if Armstrong stays true to his word.
Coen had previously suggested that Lightning integration may go against the business plan for many of these trading platforms, “since the priority seems to be to integrate as many altcoins as possible and follow the trends of the market.”
Armstrong claims to have tested out a Lightning network application in recent days, and sent Cointelegraph reporter Joseph Hall $100 in BTC after Hall shared a video of himself using Bitcoin in Senegal.
The $100 was a prize by Armstrong for those who shared the “best” examples of how people are using crypto in Africa. Hall said he would give away the funds to onboard others to Bitcoin.
Here is a video of me using #Bitcoin in Africa
I used #lightning for instant, free payments. Does Coinbase Wallet have lightning? ⚡️
#BitcoinAfrica > #CryptoAfrica pic.twitter.com/1Syz71swR4
— Joe Nakamoto (@JoeNakamoto) April 7, 2023
Hall reported, however, that he hasn’t received the payment, prompting Bitcoiner Derek Ross to suggest that Armstrong “needs a lesson on Lightning.”
Coinbase has lately been more active in the Ethereum ecosystem having launched “Base” on Feb 23 — an Ethereum layer 2 application-focused network powered by fellow layer 2 Optimism.
Related: Bitcoin Lightning Network growth is organic, coming from real-world adoption
Interestingly, Armstrong wrote a “Scaling Bitcoin” article in January 2016, where he said that he would throw support behind Bitcoin scaling solutions:
“We also did it to show our support for scaling Bitcoin, and encourage things to move forward, since we’d like to see a solution sooner rather than later.”
Lightning was launched about two years later in March 2018, with last month marking the fifth anniversary of the network.
Cointelegraph contacted Coinbase for comment but did not receive an immediate response.
Magazine: Bitcoin in Senegal: Why is this African country using BTC?