TechFlow news — On June 20, Binance announced via Twitter that it is integrating the Bitcoin Lightning Network to support user deposits and withdrawals. However, there is still significant technical work to complete before full integration, and updates will only be rolled out once this process is finalized.
Previously, on May 31, Binance CEO CZ stated during an AMA that Lightning Network addresses cannot be pre-generated. Therefore, implementing the Lightning Network requires Binance to adopt significantly different security measures, which is far more complex than simply installing and using a wallet—many security factors must be considered. Nevertheless, the team is already highly familiar with the Lightning Network and is actively exploring various solutions.
CZ mentioned that Binance may initially enable small-amount Lightning Network transactions. While no specific timeline has been confirmed, the team has already conducted in-depth research. He believes that every exchange will eventually need to support the Lightning Network, and the earlier it's implemented, the better. This move will drive future innovation, particularly benefiting services such as Binance Pay and other wallet offerings.
