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According to data from the analytics platform Amboss, Binance’s Bitcoin lightning node has been growing rapidly. The exchange is currently ranked 13th based on capacity, boasting 96.7 BTC out of the network’s total of 4,915.52 BTC.
During the past week alone, the total capacity of Bianance in Lightning network increased 93%, and number of channels increased 179%.
This means that Binance’s integration of the Lightning Network has been well-received, and Binance users are actively using the Binance lightning node to process their Bitcoin transactions.
Last month, Binance started to integrated with Bitcoin Lightning Netowork.
Binance Completes Integration of Bitcoin on Lightning Network, Opens Deposits and Withdrawals
The Bitcoin Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain that aims to solve the scalability and transaction speed issues inherent in the original Bitcoin network. It is designed to enable fast and cheap transactions between users without the need for on-chain transactions.
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