India’s cryptocurrency ecosystem has taken a significant leap with Unocoin, one of the nation’s oldest digital asset exchanges, integrating the Lightning Network. This development is expected to substantially reduce transaction costs and boost the speed of bitcoin settlements across the country.
The Lightning Network is a second-layer solution built atop the Bitcoin blockchain. Its primary goal is to enable almost instantaneous transactions at a fraction of the cost associated with traditional on-chain transactions. By leveraging this technology, Unocoin aims to foster greater use of bitcoin for small, everyday payments—a sector where scalability and transaction fees have traditionally posed challenges.
This integration is made possible through a collaboration with U.S.-based infrastructure provider Voltage, known for its enterprise-grade Lightning Network offerings. Initially, users will gain access to faster bitcoin transactions, with future plans to also support Tether (USDT) payments via the Lightning Network.
Key highlights of this integration include:
- Reduction in bitcoin transaction fees
- Improved speed for settlements
- Support from leading infrastructure partner, Voltage
- Planned expansion to stablecoin payments (USDT)
Unocoin’s decision comes at a time when Indian cryptocurrency regulations remain uncertain. While some exchanges have scaled back operations or exited the market entirely, Unocoin is expanding its offerings, further asserting its position in India’s evolving crypto space.
By adopting Lightning, Unocoin joins a small but growing group of Indian platforms embracing this advanced technology, thereby enhancing the practicality of bitcoin as a payment method in daily life.
For more details, read the full article at Bitcoin Magazine.