Kraken, the major US cryptocurrency exchange, has reportedly begun implementing Bitcoin (BTC) A lightning network for users that is a little behind the company’s original plans.
Bitcoin’s biggestist, Mr. Hoddle, went to Twitter on Wednesday to report that Kraken had implemented the Lightning Network. He has attached a screenshot of the envisioned new Kraken withdrawal process that will allow users to complete withdrawal requests from their Lightning wallet in order to receive BTC from their account.
“Lightning Network runs on the Bitcoin blockchain and enables more use of Bitcoin,” reads Kraken’s withdrawal notice in the screenshot.
It’s official! @krakenfx Implemented Lightning Network.
— Mr.Hodl (@MrHodl) March 29, 2022
So far, no other Kraken user seems to have reported an implementation of BTC Lightning on the platform.Instead, some Kraken customers Said There was no Lightning option to withdraw BTC as of Tuesday, suggestion The Lightning implementation should be extended to all accounts within 24 hours.
The first report on Kraken’s BTC Lightning application surfaced with crypto enthusiasts in mid-March. suggestion Implementation begins with data from Lightning Network Explorer, known as Amboss.
An Amboss spokesman told Cointelegraph on March 16 that he received a “network gossip” that broadcasts node aliases as Kraken using octopus and lightning pictograms. “But this is already a very large node with a capacity of 7 BTC,” the representative added.
“Kraken has not contacted us to verify that this node belongs to us, using standard Twitter and digital signature verification processes to prove ownership, however. Judging by the restricted channel policy, channel peer selection, node and channel size, this seems legitimate. “
As of this writing, the total amount of Kraken’s suspicious node alias capacity in Lightning Amount of money According to Amboss data, it is over 2.8 billion Satoshi, or 28 BTC.
A Kraken spokesman refused to directly confirm or reject implementations in Cointelegraph, saying the exchange had long sought to fully support Bitcoin’s Lightning Network. “Immediate payments not only allow traders to use Bitcoin to execute more efficient arbitrage strategies, but also allow consumers to use Bitcoin as a practical means of exchange and as a storage of value assets. It will be, “said the representative.
“As a platform that takes pride in being at the forefront of innovation without sacrificing the security and quality of the entire exchange service, Kraken sees Lightning integration as a natural step.”
As previously reported Kraken officially announced plans for integration We plan to implement the Bitcoin Lightning Network in 2021 in the second half of 2020. Some crypto observers laughed at kraken-like exchanges that would take a long time to integrate Lightning, as some candidates in the US Congress had previously succeeded in adopting Lightning.
— Dennis Porter (@Dennis_Porter_) November 30, 2021
Released in March 2018Lightning Network is a Bitcoin Layer 2 protocol designed to provide faster and cheaper BTC transactions. Bitfinex is believed to be the first crypto exchange A world that enables Lightning payments by integrating the protocol in December 2019.