THELOGICALINDIAN - OKCoin will use Lightning Network to action lower fees and mininum abandonment amounts as able-bodied as faster affairs to its Bitcoin users
OKCoin barter appear today that it is amalgam Lightning Network, with users accepted to acquire the allowances ancient in Q1 2024. These allowances accommodate affairs that booty abnormal rather than account or hours and decidedly lower fees and minimum withdrawals.
OKCoin: One of Many Lightning Network Use Cases
In a blog post, the barter declared that the affiliation “will additionally abate our accepted minimum withdrawal/deposit from 0.001 bitcoin or 100k satoshis (~$35) to 0.000001 bitcoin or 100 satoshis (~$0.04).”
Users will accept the advantage to accept whether they appetite to use Lightning Network for their affairs or not.
“The access to bitcoin still comes with barriers,” declared OKCoin, abacus that “by amalgam Lightning Network to abate transaction costs and time, we aim to abate those barriers to authoritative bitcoin added accessible as a currency.”
Lightning Arrangement is a layer-2 agreement that processes Bitcoin affairs off the capital blockchain, decongesting the arrangement and acceptance for added affairs at a faster amount and lower cost.
The Lightning Network was implemented to acquiesce players of the Counter-Strike video bold alternation to acquire Bitcoin while playing, allowance acceptance amid gamers.
After years of development and setbacks, Lightning Network has assuredly started to authenticate real-world amount to the crypto industry.
The OKCoin affiliation is one of the abounding applied applications that the technology may end up actuality acclimated for, with actual allowances to end-users.
Disclosures: At columnist time, the columnist captivated Bitcoin. OKCoin is a sponsor of Crypto Briefing. This commodity was called absolute of this relationship.
