Crypto exchange OKEx says the BTC Lightning Network is now live on its website. By utilizing Lightening, OKEx will be able to facilitate much faster and cheaper BTC transfers. OKEx users are now able to use the Lightning Network for both BTC deposits and withdrawals.
OKEx announced the integration of Lightening back in February 2021. The company said that Lightening integration highlights OKEx’s commitment to bringing advanced Bitcoin technology to the world.
As many people know, Bitcoin is a power hog and transfers can be a very slow process. The Lightning Network is a decentralized network that uses smart contracts on Bitcoin’s blockchain to facilitate instant payments across the network. It is also an off-chain scalability solution to Bitcoin’s network congestion.
By integrating layer 2 solutions like the Lightning Network, OKEx seeks to offer an improved trading experience to its users along with lower costs and faster transactions.
OKEx is a top twenty crypto exchange that reported over $28 billion in trading volume in the most recent 24 hour trading period.