Lightning Network Goes Live on OKEx Exchange for Faster BTC Deposits and Withdrawals

Crypto exchange OKEx has announced the integration of the Lightning Network into its platform, allowing faster and cheaper BTC withdrawals and deposits.

The Lightning Network is a layer 2 protocol with a bi-directional payment channel, designed to provide scalability and higher throughput.

By integrating layer 2 solutions like the Lightning Network, OKEx is able to offer an improved trading experience to its users — with lower costs and faster transactions — alongside supporting the Bitcoin ecosystem by increasing the number of participating nodes.


Number of Nodes Doubling as BTC Grows

The number of nodes in the Lightning Network has doubled as corporations have started adopting BTC and Blockchain. According to data from Bitcoin Visuals, the number of active nodes reached 10,000 this month, with $69 million in locked value.


Before OKEx, Bitfinex was one of the first exchanges to adopt the Lightning Network, followed by Kraken, CoinCorner and OKCoin. The number of companies embracing BTC has doubled in the last five months and it looks like it keeps growing.

Bitcoin is trading at $73,225 AUD, slowly recovering from the market crash that happened this weekend. Its price tumbled below $67,300 AUD following the massive liquidation of high leveraged traders on Binance and other exchanges, causing a market crash that dragged most altcoins with it.

José Oramas

José Oramas

José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.

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