[2020-12-16] "Kraken to launch bitcoin lightning integration in 2021"

[Carlton Banks]

https://blog.kraken.com/post/7225/a-need-for-speed-kraken-to-launch-bitcoin-lightning-%E2%9A%A1%EF%B8%8F-integration-in-2021/

Kraken is excited to announce new investments and forthcoming features designed to bring the benefits of Bitcoin’s Lightning Network to our global exchange.

Building on Bitcoin’s blockchain technology, the Lightning Network will help the world’s largest cryptocurrency scale to process millions of transactions per second, a leap forward enabling trades to be completed at a lower cost and with greater speed.

In 2021, we are committed to hiring a team to focus specifically on the Lightning Network, as part of our continuing effort to deliver the best possible experience for traders and investors.

We expect to allow clients to withdraw and deposit Bitcoin on Lightning in the first half of 2021, which will allow clients to move their Bitcoin instantly and with the lowest fees.

But easier deposits and withdrawals are just the beginning of the additional features we are aiming to provide. By joining Kraken’s Lightning Network team, you can shape the future of programmable payments with digital money.

If you have an eye for front-end or UX design or if you have experience with open-source Lightning protocol development, we are interested in your application.

Apply here
About the Lightning Network

An in-progress innovation, the Lightning Network will enable Bitcoin to be moved into new types of channels secured by the Bitcoin blockchain.

The Lightning Network is evolving quickly and there are numerous open-source and free wallet solutions that already support this new bitcoin payments platform. For merchants, BTCPay Server offers a Lightning Network integration, enabling e-commerce stores to receive fast and cheap Bitcoin payments.

Note: Lightning Network wallets are connected to the internet, and aren’t advised for long-term safe-keeping. Please carefully review your Lightning wallet’s documentation to ensure you are using it correctly.

[Carlton Banks]

as I've been saying all along, I expect the other major exchanges to have their hand forced by Bitfinex enabling Lightning deposits/withdrawals, and Kraken have taken the next step toward that scenario

[cr1776]

as I've been saying all along, I expect the other major exchanges to have their hand forced by Bitfinex enabling Lightning deposits/withdrawals, and Kraken have taken the next step toward that scenario

This. 

Competition in the marketplace will force them to compete.  This is a "race to the top", e.g. a "race to freedom". 

Taproot, Schnorr and other extensions will help increase privacy, among other things and I hope that competition keeps the improvements coming.