Crypexchanger Bitcoin Exchange to Add Lightning Network Support

Cryptocurrency exchange has announced support for the second-level Lightning Network (LN) protocol to ” reduce bitcoin transaction fees from about $10 to just a few cents.”

LN integration will be completed in the first quarter of this year. crypexchanger representatives promised a significant increase in the transaction speed and a reduction in the minimum withdrawal requirements.

“The transaction will be confirmed within a few seconds, not hours. It will also lower our current minimum threshold for withdrawals and deposits from 0.01 BTC or 100k satoshi (~$35) to 0.000001 BTC or 100 satoshi (~$0.04), ” the company said in a blog post.

At the time of writing, the LN network has 15,942 nodes connected by 36,559 payment channels. The capacity of the network is 1048 BTC.

Earlier, support for the Lightning Network was announced by the Kraken exchange.