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etwork Bitfinex becomes the first exchange to support the Lightning Network Bitfinex, a Hong Kong-based cryptocurrency exchange, announced support for Lightning Network deposits and withdrawals becoming the first exchange in the industry to do so. Bitfinex adds support for the Lightning Network The Lightning Network is a second layer solution to Bitcoin’s scalability problem. It was created by Lightning Labs, a San Francisco-based company building the next generation of decentralized financial infrastructure. The idea behind it was to increase the transaction throughput of BTC’s blockchain network. This open-source protocol enables instant payments at exceptionally low fees with millions to billions of transactions per second, and cross-chain atomic swaps. Starting on Dec. 3, Bitfinex will add support for Lightning Network deposits and withdrawals. The new feature would be offered to all users who would begin to enjoy faster and cheaper transactions. And, those running their own Lightning Node would also be able to connect with Bitfinex’s Lightning Node.
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