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Odaily Planet Daily reports that Coinbase CEO Brian Armstrong responded on X platform to the situation of Coinbase Commerce temporarily not supporting on-chain or Lightning Network payments for BTC as follows: "Commerce uses a new EVM payment protocol; users can make payments from any self-hosted wallet; we believe that the future of cryptocurrency payments will primarily occur on L2, and we hope to help achieve this goal. Currently, the fastest checkout method on Commerce is to use any ERC-20 token on L2 (such as Ethereum, USDC, wrapped Bitcoin, and hundreds of other ERC-20 tokens including those on Base and Polygon). As a fallback, customers can use Coinbase accounts (if available) for payments, including direct Bitcoin payments (Coinbase to Coinbase transactions occur off-chain, allowing us to make this process instant and fee-less). We are in the process of integrating the Lightning Network into Coinbase, with hopes of enabling Lightning Network for commercial payments in the future. Until we detach from Layer 1 and reduce transaction fees and confirmation times, cryptocurrency payments online will not truly become mainstream, so we are working to accelerate towards this goal. I believe that regardless of the chain (except possibly Solana), the market for paying for everyday items on Layer 1 will be very small." In December last year, Coinbase CEO Brian Armstrong stated in an interview that Coinbase plans to integrate Solana, hoping that transaction settlement speeds on its platform will be less than one second and costs will be less than one cent. To achieve this, Armstrong stated: "Coinbase will integrate the Lightning Network and 'other very fast Layer 1, such as Solana,' on Bitcoin." |
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Post time 25-2-2024 14:34:37