2 payment protocols

OKEx, a world-leading cryptocurrency spot and derivatives exchange, has announced that it has integrated Bitcoin’s Lightning Network, allowing faster and cheaper transactions for users.

The Lightning Network is a decentralized scaling solution for Bitcoin that abstracts small transactions between users away from the Bitcoin blockchain. It utilizes smart contracts to settle the final balance of those payments into the Bitcoin “base layer” whilst ensuring that all transactions abide by the rules of the Bitcoin protocol. But while these transactions take place in Lightning channels, they do not require the transaction fees or wait times that “on-chain” Bitcoin transactions typically do.

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