Unocoin, India’s top Bitcoin and crypto exchange, integrates Lightning technology
India’s most prominent exchange for bitcoin and other cryptocurrencies, Unocoin, recently implemented the Lightning Network, a secondary protocol designed to facilitate quick and cost-effective bitcoin transactions. This move underscores Unocoin’s stature as a premier digital asset platform in the nation.
This integration of the Lightning Network was made possible through Voltage, an established U.S.-based provider of Lightning solutions that cater primarily to enterprise needs. Unocoin’s collaboration with Voltage heralds a crucial advancement in bitcoin’s utility in India, responding to the growing demand for transactions that are both scalable and economically efficient. By embracing the Lightning Network, Unocoin is paving the way for its clientele to experience immediate bitcoin settlements, with plans to include Tether (USDT) transfers through the same network in the near future.
Sathvik Vishwanath, Unocoin’s CEO, expressed the company’s ongoing commitment to enhancing transaction efficiency and affordability for its users. The adoption of the Lightning Network underscores Unocoin’s dedication to offering the swiftest and most economical bitcoin and USDT transfers, underpinned by Voltage’s innovative technology.
Unocoin’s decision to implement Lightning comes at a challenging juncture for the Indian cryptocurrency market, which faces regulatory complexities. Despite many exchanges scaling back or exiting the industry, Unocoin has persevered, upholding its operations and users’ confidence. By embracing Lightning technology, Unocoin showcases its resilience and commitment to spearheading cutting-edge developments in India’s bitcoin and cryptocurrency landscape.
Graham Krizek, the CEO of Voltage, hailed the Lightning Network as a groundbreaking solution in enhancing bitcoin’s scalability, facilitating rapid, secure, and cost-efficient transactions. This acknowledgment underscores the game-changing potential that Lightning technology holds in revolutionizing digital asset transactions, making them more accessible and user-friendly.
Unocoin’s integration of the Lightning Network not only elevates the exchange’s operational efficiency but also augments the overall ease of conducting bitcoin transactions for its users. This strategic move underscores Unocoin’s foresight in harnessing the capabilities of state-of-the-art technology to meet the evolving demands of the digital asset market, ensuring seamless and efficient user experiences.
