Brian Armstrong, one of the co-founders of Coinbase, has recently confirmed the company’s intention to integrate the Lightning Network into its platform, showcasing a strong commitment to advancing the progress of Bitcoin.
Armstrong stated, “We’re exploring how to incorporate Lightning. It’s a complex process, but I believe it’s worth pursuing. I am fully supportive of Bitcoin gaining traction for payments.” He took a moment to address misconceptions, clarifying that Coinbase has actively contributed to Bitcoin’s growth. “I don’t understand why people think we’re neglecting Bitcoin — we’ve introduced more people to Bitcoin than possibly any other company globally,” he emphasized in a tweet.
These statements emerged amid criticism suggesting that Coinbase was overlooking Bitcoin and its Layer 2 solution, the Lightning Network. This network aims to enhance the speed and affordability of Bitcoin transactions, a pivotal step in its broader adoption as a viable medium of exchange. Jack Dorsey, the former CEO of Twitter and a prominent Bitcoin advocate, was among the first to react to Armstrong’s comments. In a seemingly critical inquiry, Dorsey questioned, “Why are you still disregarding Bitcoin and Lightning? Which ‘crypto’ serves as a superior money transmission protocol, and why?”
Dorsey, however, later adopted a more cooperative stance, acknowledging Coinbase’s role in bolstering the Bitcoin community and expressing a willingness to collaborate. He expressed, “There’s no doubt that Coinbase has introduced more people to Bitcoin than any other entity. I appreciate that. It would be fantastic if more of your resources could be allocated to your original focus on Bitcoin and layer 2 technologies, and we would be open to partnering.” Dorsey reiterated his vision of an open protocol for transmitting money, free from the influence of individuals, corporations, or governments. This philosophy aligns with the core principles of cryptocurrencies, particularly Bitcoin.
