The crypto exchange giant Kraken was thrilled to announce the incorporation of the <a href="https://www.cryptoknowmics.com/news/bitcoin-lightning-network-capacity-hits-all-time-high/">Bitcoin Lightning Network</a>. 

https://twitter.com/krakenfx/status/1509901663536041988
<h2>Why Does Kraken Need Lightning?</h2>
Lightning Network offers users of Kraken immediate settlement solutions of Bitcoin transactions to accelerate the use of the digital asset as a medium of exchange. Secondly, as the Lightning Network is a scalability solution or Layer-2, it allows users of Kraken to send and receive BTC immediately and without any virtual fees. 

A spokesperson of the exchange stated that besides enabling instant and affordable deposits and withdrawals, Kraken's core network services also enable the Network to route payments. As compared to Visa executing 65,000 transactions per second, the Network can process millions of transactions in the same amount of time. 
<blockquote>Kraken's Bitcoin Product Manager Pierre Rochard stated, 

"The Lightning Network provides real-time settlement of BTC payments, larger capacity than any other system and for the first time microtransactions at scale."</blockquote>
<h2>Potential Rapid Scaling of Kraken's Business</h2>
Earlier Kraken has stated that seamless transactions of Bitcoin is just the tip of the iceberg and disclosed that future feature will be soon introduced. Decentralized search engine Presearch's founder Colin Pape believes that the Lightning Network is a boon for scaling Bitcoin. 
<blockquote>"I hope Kraken's integration is a proof point for the validity of the Lightning Network and something that other exchanges consider because the success of Bitcoin is the success for the digital space."</blockquote>

Kraken Incorporates Lightning Network for Seamless Bitcoin Transactions

Crypto exchange giant, Kraken announced the incorporation of Bitcoin Lightning Network for immediate, affordable and seamless Bitcoin transactions.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Kraken Incorporates Lightning Network for Seamless Bitcoin Transactions

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