Cryptocurrency exchange OKEx has added support for the second layer Lightning Network solution for the Bitcoin network, which increases transaction speed and reduces fees.
Back in February, OKEx CEO Jay Hao announced that after the implementation of Lightning Network support, Bitcoin deposits and withdrawals from the exchange will take from 1 to 3 seconds, and the commission will be less than 1 cent.
However, the Lightning Network has certain limitations. The solution was created for small transactions, so the maximum transfer through the Lightning Network to OKEx was planned to be limited to 0.05 BTC. At the current exchange rate, this is $ 2,750. It is unclear if this limit has been changed.
At the moment, payments through the Lighting Network are only available through the platform’s website. Mobile application users will be able to use the function a little later.
At the beginning of the month, it was reported that the number of nodes in the Lightning Network exceeded 10,000. The solution blocked 1,185 BTC, and the number of payment channels exceeded 45,000. The Paxful platform also announced support for the Lightning Network in February.
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