U.S-based cryptocurrency exchange, Kraken will most likely roll out support for the Bitcoin Lightning network before the end of the year, according to the company’s Bitcoin strategist, Pierre Rochard.
Rochard revealed that plans were in place to support Bitcoin’s most primed scaling solution, in a Wednesday tweet response to an inquiry for a clear timeline regarding when Kraken plans to integrate the technology which has been around for a few years.
He responded:
This year, 2020, fire me if it doesn’t happen.
— Pierre Rochard (@pierre_rochard) May 28, 2020
While Rochard did not disclose further details about the plans Lightning network feature on Kraken, it is worth recalling that he explained to Coinfomania in a recent interview that one of his roles at the exchange company is to “consult with the teams across Kraken implementing and supporting Bitcoin products.”
Meanwhile, when Kraken does roll out support for the Bitcoin Lightning network, it will become of the oldest exchanges, apart from Bitfinex, to support the off-chain scaling solution, which many believe will finally put Bitcoin in contention for use in micro-payments by mainstream users.
At the time of writing, data from 1ML.com shows that the Lightning Network’s had a 930.26 BTC capacity, a figure that is below the 1050 BTC mark recorded in April 2019.
On the bright side, the number of nodes on the network has increased to 12,890, an over 35% increase within the last twelve months.
Bitcoin as Sound Money, Adoption, and $100K Price: Read The Full Interview With Pierre Rochard
Update: The title of this article has been updated to more accurately reflect the message from Kraken Bitcoin Strategist. An earlier version read: Kraken Exchange to Roll Out Lightning Network Support This Year Confirms Bitcoin Strategist
