Bitcoin Lightning on Coinbase agenda, Brian Armstrong tells Jack Dorsey
Brian Armstrong, the CEO of Coinbase, confirmed that the crypto exchange is “looking into” adding the Bitcoin (BTC) Lighting network in its quest to spread crypto payments adoption across the globe.
On July 28, Armstrong addressed the crypto community on Twitter (rebranded to X), highlighting the potential of cryptocurrencies to improve global payments infrastructure. He further suggested:
Armstrong’s vision for global crypto payments was questioned by long-standing Bitcoin supports — including MicroStrategy founder Michael Saylor and Square CEO Jack Dorsey — given no mention of Bitcoin in the post, as shown below.
The next step for crypto is to make payments instant and free globally.This will take lots of work from all of us, Coinbase included, getting layer 2's integrated, better on-ramps, simpler UX/onboarding, etc.A magic threshold would be getting the average payment under 1 cent… https://t.co/IDWTHsZNUq
The Lightning Network aims to make Bitcoin transactions faster and cheaper by allowing users to create off-chain transaction channels. While Saylor simply recommended integrating Bitcoin Lightning on Coinbase, Dorsey questioned “what "crypto" is a better money transmission protocol (than Bitcoin) and why?” After 5 days of silence, Armstrong responded to Dorsey, stating:
Armstrong confirmed that Coinbase was looking into adding support for Bitcoin Lightning while reassuring his support for Bitcoin payments. Dorsey acknowledged Coinbase’s role in spreading Bitcoin adoption and agreed to partner with Armstrong in putting resources into Bitcoin and layer 2 technologies, adding:
The open discussion between the two crypto entrepreneurs concluded with both pledging to be on the same team.
Related: Lightning Labs releases
Read more on cointelegraph.com
