- Bitfinex has just announced the first of two major upgrades which will completely change payments and spending habits.
- The platform's CTO, Paolo Ardoino, confirmed that it would be now supporting Bitcoin transactions on the Lightning Network.
Bitfinex, one of the most notorious crypto platforms in the space today, has just recently announced the first of two major upgrades which will allegedly completely change the user’s payments and spending habits.
In a tweet posted earlier this week on 2nd December, the platform’s CTO, Paolo Ardoino, confirmed that it would be now supporting Bitcoin transactions on the Lightning Network (LN).
The move is a first for a big cryptocurrency platform like Bitfinex in announcing it via its updates mailing list.
So now, users will be able to benefit from instant transactions they will pay next to nothing in fees in order to send funds through the Lightning Network. The announcement comes in response appears to the first of two mystery “integrations” Bitfinex revealed on its website back in November.
“Once this feature is unlocked, crypto transactions will never be the same again,” its description reads.
Ever since the start of last year, lightning has been up and running on the Bitcoin main net. Initially designed to help increase the Bitcoin network capacity, the tool has received some big support from people such as the CEO of Twitter, Jack Dorsey.
Simultaneously, the use of lightning is being saved for the ‘technically minded’, as it is in its very early stage of state making it quite unusable for many crypto investors that are new to the space.
Ardoino was clear about his preferences for Bitcoin scaling:
“LN and LN assets are not only the best P2P micro-payments solution, but an impressive settlement layer for B2B.”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!