[2021-01-22] OKCoin to integrate Lightning Network

[Carlton Banks]

https://blog.okcoin.com/2021/01/22/okcoin-integrates-lightning-network-for-99-lower-fees-and-near-instant-transaction-for-off-chain-deposits-withdrawals/

rollout in Q1 this year apparently

So now exchanges supporting LN are:

• Some private US one of which I forgot the name
• Bitfinex
• FixedFloat (crypto only)
• Kraken (soon^TM)
• OKCoin (sooner than Kraken)

I don't mean to gloat, but there appears to be an accelerating number of exchanges offering (or preparing) Lightning, as I predicted they would. Well, maybe I am gloating slightly

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[bbc.reporter]

This is good news, thank you. This is what the Lightning network and the whole community certainly needs. I reckon gambling sites and other services should begin offering this also. I have been hesitant in making a transaction to a sportsbook when I see a $5.00 fee to include my transaction on the next block. I also do not want to risk to have my transaction unconfirmed in the moment the games begin hehe.

Also, Ethereum Defi projects have billions locked, I do not know why. The high demand for bitcoin transactions should put Lightning up there in top 10 with the help of the exchanges.

https://defipulse.com/

[Karartma1]

This is good news, thank you. This is what the Lightning network and the whole community certainly needs. I reckon gambling sites and other services should begin offering this also. I have been hesitant in making a transaction to a sportsbook when I see a $5.00 fee to include my transaction on the next block. I also do not want to risk to have my transaction unconfirmed in the moment the games begin hehe.

Also, Ethereum Defi projects have billions locked, I do not know why. The high demand for bitcoin transactions should put Lightning up there in top 10 with the help of the exchanges.

https://defipulse.com/

Good news Carlton!
Replying to bbc.reporter my take is that DeFi's being used to gain (mostly lose) money by shitcoin speculators. The LN is bitcoin's new super fast highway for transacting and therefore the use of LN can't be compared to many of those defi instruments and tools.
Once, LN will be more mature you will see defi data crumbling because most of the money will move again on btc.
I mean, day-to-day transactions on eth for defi are way too expensive. Useless virtual machine.

[error08]

yap, one of the best circumstances for customers and exchanges for a faster and lower fees transaction, it's a scaling solution for the community and hopefully more exchanges following the path to apply lightning network as well, look the advantage for both parties.
It will also reduce our current minimum withdrawal / deposit from 0.001 bitcoin or 100k satoshis (~$35) to 0.000001 bitcoin or 100 satoshis (~$0.04).
The next target is segwit for all exchanges, maybe if the mempool congestion is high enough to push them to implement segwit.

[StartupAnalyst]

Well, this round of development of the BTC network was unavoidable. I wonder how soon all the other exchanges will join them. I think this year Lightning Network technology will get a huge support from all kinds of companies and services