The cryptocurrency exchange OKEx announced support for the Lightning Network (LN) 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 is scheduled to be completed in the first quarter of this year. OKEx CEO Jay Hao, in a comment to The Block, described the current price and processing time (on average $11 and 10–30 minutes) as ‘not cost-effective’ and promised to bring them down to $0.01 and one to three seconds respectively.
As of writing, the LN network has 16,207 nodes connected to 37,362 payment channels. Network capacity stands at 1,061 BTC.
Data: 1ML.
Earlier, exchanges OKCoin and Kraken announced Lightning Network support.
Lightning Network: fast and cheap Bitcoin transactions
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