Bitcoin Lightning Network New Binance

Cryptocurrency exchange Binance fully incorporated the Bitcoin Lightning Network into its platform, in order to make BTC withdrawals and deposits possible.

This integration was duly validated and ratified by Binance, as attested in an article released on its official blog on July 17. In the said publication, it was highlighted that Binance users are currently able to employ the second layer scalability solution to make both withdrawals and BTC contributions.

The Lightning Network is a protocol built on top of blockchain networks such as Bitcoin, designed to enable faster and more cost-effective transactions. It allows participants to create off-chain payment channels that can facilitate fast and low-cost transfers without the need to record each transaction on the main blockchain. This helps resolve scalability and congestion issues.

There are several wallets that support the Lightning Network. Some popular ones include:

1. Lightning Compatible Bitcoin Wallets:

   - BlueWallet

   - Zap Wallet

   - Eclair Wallet

   - Phoenix Wallet

2. Cartories Integrated with Exchanges:

   - Bitfinex

   - Kraken

   - OKEx

3. Hardware Portfolio:

   - Trezor

   - ledger

Remember to always check the security and reputation of the wallet before using it for Lightning Network transactions.

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