From taking over the entire market at the beginning of 2019 with its Lightning Torch to amassing support from various exchanges and wallets, Bitcoin‘s Lightning Network stood out in the market this last year. The latest platform to announce support for the second-layer payment protocol was River Financial, a financial firm based in San Fransico. Prior to this, one of the leading crypto-exchanges to announce its support was Bitfinex, with the platform announcing support on 3 December 2019.
Paolo Ardoino, CTO of Bitfinex and Tether, spoke about the exchange extending support for the budding payment protocol, and the reason it was an important move, taking into consideration its shortcomings, in an interview with Ivan on Tech. He stated that the Network is “best suited for retail micropayments,” even though the channel size is limited.
He stated that despite the fact that protocol took a “bit of learning curve,” the team has never had a “problem,” further stating that it was their “duty” to support such as “beautiful technology.” He also stated that it is important for exchanges to invest money in research.