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Kraken Integrated Lightning de Bitcoin

Kraken Integrated Lightning de Bitcoin

Key facts:
  • There is no official information about the activation of LN, but the services are active.

  • Kraken has announced that it will include Lightning in December 2020.

It took longer than expected, but the amalgamation was finally completed. Central exchange Kraken has implemented Bitcoin Lightning Network (LN) services, after several months of waiting after it was announced over a year ago.

Inside the app, you can see the section directed to LN de Bitcoin (BTC), the first cryptocurrency micropayment solution. This integration was announced in December 2020 This was finally applied to this exchange.

The CriptoNoticias team has confirmed integration through the Kraken portal, where Lightning supports deposit and withdrawal options Enabled and fully functional.

As we have seen, invoices can be generated – or Invoices– and related QR codes, which expire in 10 minutes, in which a maximum of 10 million sessions can be deposited at lightning speed and with very low fees.

At the same time, you can go ahead with the payment – or the withdrawal – with the LN, according to the same principles. However, it is good to point out that according to Kraken, At least 0.0010000 BTC can be withdrawn from that central platform.

Deposit and withdrawal options with the Lightning Network are now active on the Kraken Exchange.
Source: Screenshot / CriptoNoticias.

The strange thing about this is that There is no official announcement of Lightning Network integration. In fact, all the anger around the implementation started in Social mediaUsers have reported that the LN service has finally been activated on this exchange.

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Until a few days ago, explorer Amboss.Space revealed the existence of a Lightning node called the Kraken, Which has a capacity of 29 bitcoins and around 168 active payment channels.

For this reason, CriptoNoticias has contacted Kraken’s service information and channels to confirm this. However, they mentioned – lukewarmly – that although they are still working and the official announcement is relatively close, The integration is not complete.

“Kraken has always stated its goal to fully support the Bitcoin Lightning Network on the platform. Instant settlement not only allows merchants to implement the most effective arbitrage strategies with Bitcoin, but also allows consumers to use Bitcoin as a convenient medium of exchange as well as a store of valuable assets.”

As a platform that prides itself on being at the forefront of innovation without sacrificing the security and quality of an end-to-end exchange offering, Kraken sees lightning integration as a natural next step.

Integration with the Lightning Network is on our roadmap as we approach the official launch. As soon as we are able to do so, we will inform our customers on our blog.”

Kraken Exchange.

Sweet – and long wait

Like we said at the beginning, it’s been over a year since we’ve been waiting for the LN to merge into Kraken. In December 2020, the company tweeted a press release titled “Need for Speed,” indicating its intent to implement Lightning services on its platform.

However, the whole of 2021 has passed and there has been no sign or approach. So much so that in December of last year, we reported on CriptoNoticias that it’s been 12 months since the announcement, with no results reported.

Now that the integration is a reality, it remains to wait for it to be confirmed by the managers of Kraken, one of the oldest cryptocurrency exchanges in the ecosystem.

Billing for receiving payments with LN is already enabled on the Kraken Exchange. Source: Screenshot / CriptoNoticias.

lightning network growth

While it is true that the integration of LN into Kraken took longer than expected, it is also true that this implementation comes at a time The Lightning Network is experiencing strong adoption among the bitcoiner communityIt is attracted by its countable profits.

At CriptoNoticias we have reported multiple times this year on all-time highs set by a BTC payment solution in terms of capacity, which is the amount of bitcoins users deposit into contracts between channels for liquidity. In fact, one of these ATHs was remarkably relevant because it allowed the network to exchange, in theory, an amount equivalent to the value that Bitcoin reached after 3 years.

In addition, as evidence of the growth, there were – again – the Bitcoin events referred to as LN, which this newspaper said had been. Not satisfied, progress has been made to bring Bitcoin closer to the world with this second layer solution, with a new node called Sensei.

Kraken’s Lightning node has been listed on Amboss.Space for several days now. source: Amboss.Space.

And just like these, there are more examples of explicit LN growth in 2022. For this reason, the Kraken integration is defined as: Another sign that this solution is here to stayjust like Bitcoin.

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