Bitcoin Lightning Network (LN) integration has begun to gain traction among cryptocurrency exchanges globally. However, it appears that some of the world’s major crypto exchanges like Coinbase and Binance are not in a rush to incorporate the protocol.
Bitcoin Lightning Network integration
The Lightning Network, which debuted in March 2018, is a Bitcoin layer-two technology designed to enable quick and inexpensive BTC transactions. Bitfinex is reported to be the first crypto exchange in the world to introduce Bitcoin Lightning functionality for payments in December 2019 by adopting the protocol.
Recently, like BitPay and the Kraken crypto exchanges, Robinhood has become the latest major exchange participant to reveal Lightning integration. However, not everyone is pleased with the rate at which Bitcoin LN is being adopted among exchanges.
David Coen, a software quality assurance tester and crypto fan, is dissatisfied with the lack of development in major crypto exchanges’ Lightning Network integration. He gathered information from official sources, social media presences, and Lightning explorers. He found out that despite offering extensive information on the Lightning Network on its websites, Coinbase and Binance and other Korean crypto exchanges are yet to indicate their prospective Lightning Network integration plans.
Why is Bitcoin LN integration slow?
There appear to be a variety of reasons why some of the world’s top crypto exchanges have yet to integrate Lightning functionality. Among many plausible explanations, the availability of the Lightning Network would be effectively correlated with fewer incentives to retain Bitcoin on exchanges like Binance owing to costly withdrawals.
According to certain members of the crypto community, Lightning is still a cutting-edge development, which requires huge crypto exchanges to invest substantial time and effort to achieve such advancements.
 integration has begun to gain traction among cryptocurrency exchanges globally.){kind=link}