• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Market Cap
  • Shop
What's Hot

What’s the Real Difference for Beginners?

2025-05-24

What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

2025-05-23

What Is a DEX? How DEXs Work and Why They Matter

2025-05-21
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Financial Disclosure
Twitter Instagram YouTube
Crypto Semantic
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of January 28

    2025-02-03

    Op-Ed: The Artist and the Artificial Sublime

    2025-01-20

    Zora launches onchain NFT secondary markets with Uniswap

    2024-08-12

    NFT sales surge led by DMarket on Ethereum

    2024-08-12

    Top NFT Collections by Sales This Week: DMarket Surges Ahead

    2024-08-11
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Analyst Says Momentum Is Going To Switch to Ethereum, Predicts Capital Rotation to Altcoins

    2024-02-20

    Bitcoin Price Rally In Jeopardy? Decoding Key Hurdles To More Upsides

    2024-02-19

    Arweave’s AR token hits 18-month high amid rapid growth and innovation

    2024-02-19

    Largest Bitcoin Whales Gobble Up Nearly $13,000,000,000 Worth of BTC in 2024 Alone: Santiment

    2024-02-19

    NEAR Skyrockets 30% – Investors Intrigued By These Metrics

    2024-02-19
  • Learn

    What’s the Real Difference for Beginners?

    2025-05-24

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    2025-05-23

    What Is a DEX? How DEXs Work and Why They Matter

    2025-05-21

    What Is Blockchain? Blockchain Technology Explained for Beginners

    2025-05-21

    A Beginner’s Guide to Blockchain Consensus

    2025-05-16
  • Market Cap
  • Shop
Crypto Semantic
Home»Altcoins»Binance opts for the Bitcoin Lightning Network to avoid…
Altcoins

Binance opts for the Bitcoin Lightning Network to avoid…

2023-06-21No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  •  Binance confirmed that it was working to allow Bitcoin Lightning Community for deposits and withdrawals.
  • The trade’s token BNB pumped 3.89% within the 24-hour interval.

Binance [BNB], the world’s largest cryptocurrency trade, took to Twitter to announce a big enhancement that would affect how the buying and selling platform handles monumental volumes of transactions sooner or later.


Learn Binance Coin [BNB] Worth Prediction 2023-24


The crypto behemoth confirmed that it was working to allow Bitcoin [BTC] Lightning Community for deposits and withdrawals, in a response to customers who seen the brand new lightning nodes over the previous few days. Nonetheless, Binance added that full integration would take a while.

If carried out efficiently, Binance will be a part of different massive names like Kraken and OKX [OKB] who have already got the expertise up and working on their respective platforms.

#Binance is working to combine the #Bitcoin Lightning Community for deposits and withdrawals.

Some eagle-eyed customers noticed our new lightning nodes not too long ago. Sure – that is us!

Nonetheless, there’s nonetheless extra tech work to be finished. We’ll replace as soon as Lightning is absolutely built-in. https://t.co/N0oN8561sN

— Binance (@binance) June 20, 2023

 

Significance of the Lightning Community

The unprecedented congestion on the Bitcoin blockchain in Might was what prompted Binance to implement the Lightning community.   Curiously,  the huge backlog of transactions compelled Binance to pause withdrawals twice in a span of 48 hours.

Over time, as Bitcoin has grown in acceptance, the community’s site visitors has likewise soared. Given the design limitations of the present community, scaling has change into a difficulty. Furthermore, the chain has been persistently scuffling with transaction throughput as nicely.

See also  Bitcoin [BTC] stuck in new sideways structure: Will near-term bulls prevail

Lightning Community is a layer-2 resolution (L2) on high of the Bitcoin blockchain. It’s designed to unravel glitches related to the bottom community by introducing off-chain transactions.

Put merely, these transactions use direct channels between customers. And a number of transactions will be dealt with with out ready for the blockchain to verify them. As soon as these fee channels are closed, the transactions land on the mainnet for affirmation.

Robust occasions for Binance

Binance’s transfer comes at a time when it’s more and more dealing with regulatory hostilities, not simply within the U.S., however different main markets too. After being sued by the U.S. SEC earlier this month over monetary irregularities, the trade was dealing with bother throughout European international locations.

Additionally, the negativity has impacted the trade, particularly its American Arm, Binance.US. In keeping with CoinGecko, the every day spot buying and selling quantity on the trade has plunged 80% for the reason that SEC lawsuit.

Supply: CoinGecko


Is your portfolio inexperienced? Take a look at the Bitcoin Revenue Calculator


On the time of writing, the trade’s token BNB pumped 3.89% within the 24-hour interval to $251.25, presumably reacting to the embrace of the Lightning Community by father or mother entity.

Moreover, the token made some restoration over the previous week pushed by a rise in shopping for stress, as per Santiment.



Source link

Avoid Binance Bitcoin Lightning Network opts
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin vs. Altcoins: What Are The Differences?

2025-02-26

Rising ‘share-seed-phrase’ scam targets crypto holders, Binance CEO warns

2025-02-18

What Can You Buy with Bitcoin? Everything You Need to Know

2025-02-14

Ethereum vs Bitcoin: Difference Between this Cryptocurrencies

2025-02-07
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Regulation

Unpacking crypto policy progress in Washington, D.C.

2023-12-24

2023 noticed an unprecedented wave of regulatory actions round cryptocurrencies world wide, however nowhere was…

Blockchain

How Do They Work With Layer 0 Blockchains?

2023-04-15

Blockchain During the last decade, the cryptocurrency ecosystem has skilled speedy progress, with quite a…

DeFi

Bybit’s Collaboration with ApeX Pro Sets the Stage for DeFi Advancements

2023-09-05

In an thrilling growth on the planet of decentralized finance (DeFi), Bybit, the third most…

Subscribe to Updates

Get the latest news and Update from Crypto Semantic about Crypto, Metaverse and NFT.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Twitter Instagram
Popular Post

Is Bitcoin Mispriced? Lessons From Past Volatility Slumps

2023-08-08

Can a FanDuel Co-Founder’s ‘Fantasy Music’ Game Help Discover the Next Taylor Swift?

2023-10-24

Crypto Capital Inflows Reach One-Year High

2023-11-06

Get the latest news and Update from Crypto Semantic about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Financial Disclosure
© 2025 cryptosemantic.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • Kinza Babylon Staked BTCKinza Babylon Staked BTC(KBTC)$83,270.000.00%
  • Vested XORVested XOR(VXOR)$3,404.231,000.00%
  • ICPanda DAOICPanda DAO(PANDA)$0.003106-39.39%
  • bitcoinBitcoin(BTC)$108,054.00-2.58%
  • ethereumEthereum(ETH)$2,553.95-4.28%
  • tetherTether(USDT)$1.000.03%
  • rippleXRP(XRP)$2.34-4.13%
  • binancecoinBNB(BNB)$671.11-1.84%
  • solanaSolana(SOL)$174.02-6.40%
  • usd-coinUSDC(USDC)$1.000.00%
bitcoin
Bitcoin (BTC) $ 107,839.89
ethereum
Ethereum (ETH) $ 2,551.20
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.34
bnb
BNB (BNB) $ 670.00
solana
Solana (SOL) $ 173.89
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.226886
cardano
Cardano (ADA) $ 0.757336
tron
TRON (TRX) $ 0.271794