Bitcoin exchange will withdraw less than 1 cent with new technology

Charlie Taylor

Coingoback" srcset="https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1.jpg 700w, https://cointimes.com.br/wp-content/ uploads/2022/06/Banner-Coingoback-700x150-1-300x64.jpg 300w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-150x32.jpg 150w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-585x125.jpg 585w" data-sizes="(max-width: 700px) 100vw, 700px " width="700" height="150" style="display: inline-block;"/>This year is increasingly promising for the Lightning Network (LN), a network whose capacity grew to over 1500 bitcoins in June 2022. On Wednesday (16), Brazilian bitcoin broker Walltime announced that this technology will soon be available to its customers.As a second-tier bitcoin technology, Lightning allows transfers at very low rates Felipe Lalli, CTO of Walltime, told Cointimes that “The rate will probably be less than one cent go from reais to withdrawals at LN.”But low cost is not LN's only attraction, transactions are also faster because they don't have to wait for onchain confirmations. As we explained in the article “Inside the Lightning Network“, this innovation is made up of integrated payment channels. Bitcoin's base protocol is used for the settlement of final balances only, at the end of a channel. The solution was proposed in 2015 and has been under development since then. The first beta version was only released in March 2018 and, although updated versions have been released, the technology remains in the testing phase.

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“LN is still very young, so its development process is in full swing. This creates a bit of insecurity, but the way to mitigate this is to allow lower limits on the use of LN.”, said Lalli. “That way the risk is limited.” The forecast is LN enabled deposits and withdrawals probably for this year, although no date can be set yet as “Walltime is very demanding with tests”, he explained. Brazil took this step yet, the Lightning Network has already been successfully implemented in Bitfinex and OKEx.Read more:

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