Unocoin, one of the longer Bitcoin and Cryptain exchanges in India, has announced the successful integration of the Lightning network, a second level protocol designed to allow low and low cost bitcoins transactions. The integration is powered by voltage, an infrastructure supplier based in the United States known for its company level lightning solutions.
This development marks a significant step forward for Bitcoin utility in India, in particular in the context of the growing demand for scalable and economic transactions. By adopting the Lightning network, UniCoin aims to offer its users the instant bitcoin settlements and, in the near future, Tether’s transfers (USDT) through the same network.
“We continually look for ways to improve the efficiency of transactions and the cost-effectiveness ratio for our users. With the Lightning network, powered by the voltage, UNOCOIN is allowing the faster Bitcoin and Tother transfers, at low cost,” said Sathvik Vishwanath, CEO of UniCoin.
The move of UniCoin arrives at a time when the Indian cryptographic landscape continues to face winds against. While several exchanges have increased or out of the market, UNOCOIN has remained resilient, maintaining users and confidence of users. The adoption by the exchange of Lightning technology strengthens its position as leader in innovation within the Bitcoin and cryptocurrency sector of the country.
“The Lightning network represents a revolutionary jump in the scalability of bitcoins, allowing fast, safe and economic transactions,” said Graham Krizek, CEO and founder of tension. “Collaborating with Uncoin, we aim to bring these benefits to millions of users in India, promoting greater adoption and usefulness of bitcoin in daily transactions.”