Coinbase CEO Brian Armstrong urges the crypto community to work on making crypto payments instant and free globally. Bitcoin maximalists including Block co-founder Jack Dorsey, MicroStrategy executive chairman Michael Saylor, and others replied asking Coinbase to integrate Bitcoin Lightning Network on the exchange. However, Solana co-founder Anatoly Yakovenko argues Solana is faster and cheaper than Lightning Network for payments.
Bitcoin Lightning Support on Coinbase
After recent efforts for clear crypto regulations, Brian Armstrong on July 27 said the next step for crypto is making crypto payments instant and free globally. The community needs to speed up getting Layer 2 integration, better on-ramps, and simplify crypto onboarding to aim for making payments under 1 cent and settling under 1 second. He hints are using USTC stablecoins for transactions.
“Today, crypto has the *potential* to improve global payments infrastructure, but it hasn’t yet delivered on that promise as we’re largely still stuck on layer 1. Payments are like water, they flow to the path of least resistance.”
Jack Dorsey and Michael Saylor recommend integrating Bitcoin Lightning Network on Coinbase for faster payments and better infrastructure.
Solana co-founder Anatoly Yakovenko argues that USDC on Solana is cheaper than Bitcoin Lightning Network, with an average confirmation time of just 1.3 seconds. The Solana community also supported Yakovenko’s facts about Solana Pay.
As the House Republicans and some Democrats approve a crypto bill for stablecoins payments and market structure, payments using USDC are likely to boost. Tether and VanEck’s Gabor Gurbacs says “People in France prefer Tether.”
Also Read: Terra Luna Classic To Burn 800 Million Tokens, LUNC And USTC To $1?
Solana Price Pumps 7%
SOL price jumps 7% in the past 24 hours, with the price currently trading above $25. The 24-hour low and high are $23.47 and $25.52, respectively. Furthermore, trading volume has increased by 100% in the past 24 hours, indicating a rise in interest among traders.
An analysis by CoinGape Market predicts Solana price to surpass the $30 psychological level due to formation of a bullish pennant pattern.
Meanwhile, Bitcoin price currently trades near $29500, up 1% in the past 24 hours after the US Fed hiked rates by 25 bps.
Also Read: Binance’s Dismissal Of US CFTC Lawsuit Is Delayed By Court
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