Cryptocurrency exchange OKEx announced support for the Lightning Network (LN) Layer 2 protocol to “reduce fees and speed up transactions.”
We are thrilled to announce @OKEx will be integrating the Lightning Network in Q1 of 2021!
OKEx is committed to furthering #bitcoin adoption and excited to work with @lightning to bring lower fees and faster transactions to all of our users.
🔗: https://t.co/wDgXUGJ7Nt pic.twitter.com/t0IyzFlczV
— OKEx (@OKEx) February 2, 2021
The LN integration will be completed in the first quarter of this year. OKEx CEO Jay Hao, in a comment to The Block, called the current price and transaction processing time (on average $ 11 and 10-30 minutes) “impractical” and promised to reduce them to $ 0.01 and one to three seconds, respectively.
At the time of this writing, there are 16,207 nodes in the LN network, connected by 37,362 payment channels. The network capacity is 1,061 BTC.
Previously, OKCoin and Kraken exchanges announced support for the Lightning Network.
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