• Jack Dorsey questioned Coinbase why the exchange is overlooking Bitcoin and Lightning.
• Coinbase’s CEO Brian Armstrong said Wednesday that Coinbase is looking into best ways to add Lightning to its platform.
• Binance , for instance, integrated Bitcoin’s Lightning Network protocol, on July 17, enabling more efficient deposits and withdrawals.

Coinbase & Jack Dorsey Discuss Bitcoin’s Layer 2 Payment Protocol

Coinbase CEO Brian Armstrong and former head of Twitter – now X – Jack Dorsey recently discussed the potential and future of Bitcoin’s Layer 2 (L2) payment protocol, the Lightning Network. In response to Dorsey’s Tweet, Armstong said Wednesday that Coinbase is looking into best ways to add Lightning to its platform.

Lightning Network Addresses Scalability Issues

The Lightning Network addresses scalability issues and utilizes payment channels to settle transactions without having to wait for block confirmations. The solution allows faster and cheaper BTC transactions, increases the network’s throughput, thus adding another layer of user security and anonymity.

Growing Adoption of Bitcoin’s Lightning Network

The ability to offer fast and cost-effective transactions on the Bitcoin network led to growing adoption among business companies like Binance who integrated Bitcoin’s Lighting Network protocol in July 17th for more efficient deposits and withdrawals. Other leading crypto exchanges are also looking into this technology such as Github which has seen a growing list of major exchanges operating this transformational protocol.

Jack Dorsey Questions Coinbase

On July 27th Jack Dorsey questioned Coinbase why it was overlooking Bitcoin and Lightning asking what “crypto” would be a better money transmission protocol than bitcoin. To which Armstrong replied that he was all for payments taking off in bitcoin but incorporating lightning was non-trivial but worth doing as Coinbase has onboarded more people into bitcoin than probably any other company in the world .

Conclusion

It seems clear with these conversations between both parties that cryptocurrency payments are set to become more accessible as platforms like Binance are integrating protocols such as Lighting Networks while other companies like Coinbase join them in their mission towards a digital economy based on decentralized technologies such as blockchain or cryptocurrencies like bitcoin .