Brian Armstrong, while announcing the decision, calls BTC “the most important asset in crypto.”
The company had said in early August that it was looking into Lightning support. On Wednesday, ArmstrongHe also took the time to praise bitcoin, calling it “the most important asset in crypto.” Back in August, when discussing the Lightning review,Lightning is a layer-2 blockchain associated with the Bitcoin blockchain. Bitcoin transactions can be offloaded there for more efficient – and much faster – processing, a prerequisite if BTC has a shot at eventually becoming a common method of payment.
“Bitcoin is the world’s digital monetary system, and Lightning is Bitcoin’s payments layer,” Cathie Wood, the head of Coinbase’s second-biggest shareholder, ARK Invest, in response to Armstrong’s post Wednesday. “Coinbase’s integration with Lightning will give its 100 million users an on-ramp to faster and cheaper bitcoin transactions. Hats off to Coinbase!”Armstrong said that while his team is working on integrating Lighting, it will take some time to do so.
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