OKEx Starts To Use Lightning Network For Bitcoin Transactions

The crypto currency exchange #OKEx announced in its press release on Monday that it has provided the necessary integration for the #Lightning #Network. This secondary layer technology is expected to speed up #Bitcoin transactions on the exchange.

OKEx started using Lightning Network in its web version to improve Bitcoin transactions on the exchange in terms of speed and cost . It was stated that mobile support for the Lightning Network will also come.

🚨Lightning Network, a Layer 2 (secondary layer) technology, is designed to ease the burden on Bitcoin users.

🚨Transaction fees will start to decrease
Increasing traffic on the Bitcoin network can lead to increased transaction fees and the formation of a transaction queue. Developed to be off-chain, the Lightning Network operates independently of this congestion and provides faster processing at a lower cost .

OKEx users will be able to use Bitcoin with Lightning technology, thanks to the integration provided in the exchange. In the announcement of the exchange, it is stated that Bitcoin transfers can be made "at almost zero cost and instantly" .

🚨Competitive environment between exchanges
OKEx announced on February 2 that it will start using the Lightning Network. Today's integration has made OKEx one of the first major exchanges to use the Lightning Network. Company CEO Jay Hao, so that users "to provide more competitive products," they could start .

Lightning Labs CEO Elizabeth Stark said the exchange's move was "a big step for both Bitcoin users and the Bitcoin community in general .