2023-06-22 00:10:14
© Reuters Santander destaca potencial da Lightning Network no Bitcoin
CriptoFácil – Banco Santander (BVMF:) recently published an article on the advantages of the Lightning Network for , reflecting a significant change in its position towards cryptocurrencies.
The Spanish group Santander made available a wide range of content in which it highlights how the Lightning Network, a decentralized system, enables the processing of “large volumes of instant micropayments”.
“The Lightning Network is a decentralized network for large volumes of instant micropayments, allowing the user to carry out immediate transactions with very low fees”, he said.
Santander further acknowledges that the Lightning Network is a promising answer not only to Bitcoin’s scalability problem, “but also for other cryptocurrencies and potentially fiat currency payments.”
Furthermore, Banco Santander notes that many traditional companies “have joined this payment system”, such as Walmart (NYSE:). At the state level, he cited the example of El Salvador, which made this system available for citizens to send remittances.
Santander praises Bitcoin technology
On the other hand, the bank also recognized some disadvantages, such as the fact that “its own creators do not recommend the use of Lightning for large value transactions”. However, he pointed out that the solution is effective for Bitcoin’s scalability, eliminating the risk of delegating custody to third parties.
The bank’s change of position was well received by the Bitcoin community:
“The next cycle will be for banks and traditional financial players,” tweeted a user identified as Bitcoin24ORE.
The tweet refers to Bitcoin adoption cycles. Cryptocurrency is already used by millions of people around the world and now it is expected that a wave of acceptance by traditional financial institutions is on the way.
Just seven months ago, Santander’s UK subsidiary imposed limits on Bitcoin transactions, but the recent publication shows that Santander may have changed its view on Bitcoin.
Other financial giants such as BlackRock (NYSE:) are adapting their systems to integrate services with Bitcoin, recognizing the potential it offers.
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