vietnam’s-oldest-bitcoin-exchange-adds-support-for-lightning-network

Vietnam’s Oldest Bitcoin Exchange Adds Support for Lightning Network

With VBT’s integration, the Lightning Community now has strengthen from half of a dozen Bitcoin exchanges.

Vietnam lightning
(Todd Winders/iStock/Getty Images Plus, modified by CoinDesk)

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Vietnam’s Oldest Bitcoin Trade Provides Serve for Lightning Community

Vietnamese Bitcoin alternate VBTC has built-in the Lightning Community.

In an announcement on Sunday, Vietnam’s oldest (and reportedly handiest Bitcoin-uncommon) alternate printed that Lightning Community withdrawals are now delivery to its users. 

In accordance with a piece of writing by BitcoinVN News, the media arm of BitcoinVN, a guardian firm which additionally owns VBTC, Lightning Community withdrawals are priced at 1,000 satoshis plus 0.2% of the withdrawn amount. Customary bitcoin withdrawals have a price of 100,000 satoshis (0.001).

The news comes about a days after the alternate adopted SegWit native batched transactions in addition, which will enable it to batch client withdrawals collectively in SegWit transactions to diminish on-chain costs.

Bitcoin’s Lightning Community meets bitcoin exchanges

VBTC’s adoption makes it one among the fundamental exchanges to poke dwell with the burgeoning abilities. It additionally adds to a increasing list of exchanges that have pledged (or launched) strengthen for Lightning this year because the abilities continues to unfold across the globe to exchanges in a form of substances of the sector.

The Bitfinex and River Monetary exchanges came into 2021 with beefy Lightning Community strengthen, and U.S.-basically based completely mostly Kraken Trade announced on the head of 2020 it can launch strengthen sometime in 2021.

U.Okay.-servicing CoinCorner launched Lightning in January, and OKCoin announced final week it has been working on an integration that ought to be delivery to customers in February.

Lightning Labs CEO Elizabeth Stark, whose firm designs the main Lightning Community software implementation, told BitcoinVN News that VBTC’s integration adds extra worth to an already electrical network develop.

“We mediate bitcoin has so essential doable for billions of contributors across the sector, and VBTC’s Lightning integration is a paunchy step in bringing it to Asia and past,” she said. “As extra exchanges be part of the Lightning Community, extra people will more than likely be in a discipline to transact straight away, internationally, with low costs. Community effects in lunge.”

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