On March 22, 2022, AAX Exchange, the first exchange to use Satoshi Standards (SATs) to promote the application of Bitcoin, announced that it will support the Lightning Network from now on, and thanked Lightning Labs for its technical support. Lightning Labs, a world-leading Layer-2 developer of Bitcoin, will help AAX fulfill its commitment to embrace the Satoshi Standards (SATs) standard.
The integration of AAX and the Lightning Network hopes to realize the consistent promise of "bringing the most advanced blockchain technology to users". Due to the increasing adoption of Bitcoin and more users transacting through the blockchain network, resulting in higher transaction fees and slower processing times, the need for scaling solutions among transacting users has increased significantly. Currently, Bitcoin mainnet payments can take 30 minutes or more to process and cost $10 or more.
By supporting the Lightning Network, users of AAX Exchange are able to instantly send bitcoins at minimal cost, while ensuring users enjoy a seamless transaction experience with virtually zero wait time from depositing, buying bitcoins to withdrawing funds. Near-instant trading also creates more possibilities for arbitrage traders on the AAX exchange.
A more streamlined user experience will also facilitate the adoption of new Satoshi-based Bits (SATs) standards. AAX is the first cryptocurrency exchange to adopt the Satoshi standard, which simplifies the Bitcoin transaction process when users buy or sell smaller amounts of Bitcoin. The addition is intended to make bitcoin more accessible to new users of the cryptocurrency, especially from the unbanked community who may have less capital.
About AAX
About AAX
AAX is an exchange for everyone and has always believed that cryptocurrency will work for everyone. Through a series of low-threshold products and services, and actively promoting cryptocurrency culture, we are opening the door to about 96% of the world's people who do not yet own Bitcoin and other digital assets, looking forward to building a better and more inclusive economic system.
AAX is favored by more than 2 million users in more than 120 countries around the world. We are not only the first exchange to use Satoshi Standard (SATS) to promote the adoption of Bitcoin, but also the world's first trading platform to adopt London Stock Exchange Group (LSEG) technology, and provide high-yield financial products, 150+ coins Currency trading, highly liquid contract market, regular discounts of mainstream tokens and various deposit channels.
