Vietnam’s Oldest Bitcoin Alternate Provides Lightning Community Assist

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

In an announcement on Sunday, Vietnam’s oldest (and reportedly solely Bitcoin-exclusive) alternate revealed that Lightning Community withdrawals at the moment are open to its customers. 

Based on an article by BitcoinVN Information, 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firm which additionally owns VBTC, Lightning Community withdrawals are priced at 1,000 satoshis plus 0.2% of the withdrawn quantity. Regular bitcoin withdrawals have a price of 100,000 satoshis (0.001).

The information comes just a few days after the alternate adopted SegWit native batched transactions as nicely, which is able to enable it to batch consumer withdrawals collectively in SegWit transactions to cut back on-chain charges.

VBTC’s adoption makes it one of many first exchanges to go dwell with the burgeoning know-how. It additionally provides to a rising record of exchanges which have pledged (or launched) help for Lightning this 12 months because the know-how continues to unfold throughout the globe to exchanges in numerous components of the world.

The Bitfinex and River Monetary exchanges got here into 2021 with full Lightning Community help, and U.S.-based Kraken Alternate introduced on the finish of 2020 it could launch help someday in 2021.

Lightning Labs CEO Elizabeth Stark, whose firm designs the main Lightning Community software program implementation, informed BitcoinVN Information that VBTC’s integration provides extra cost to an already electrical community impact.

“We imagine bitcoin has a lot potential for billions of individuals all over the world, and VBTC’s Lightning integration is a giant step in bringing it to Asia and past,” she mentioned. “As extra exchanges be part of the Lightning Community, extra individuals will have the ability to transact immediately, the world over, with low charges. Community results in motion.”