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Business

Chainalysis Blockchain Data Platform to Integrate Lightning Network

Chainalysis clients will be able to allow BTC deposits and withdrawals on the Lightning Network while complying with regulations.

By Eliza Gkritsi
AccessTimeIconDec 10, 2021 at 12:00 p.m. UTC
Updated Dec 12, 2021 at 5:06 p.m. UTC
(Johanes Plenio/Unsplash)

(Johanes Plenio/Unsplash)

Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Secure Your Seat
Alex Thorn
Head of Firmwide Research
Galaxy
Consensus 2023 Logo
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Secure Your Seat

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Secure Your Seat
Alex Thorn
Head of Firmwide Research
Galaxy
Consensus 2023 Logo
Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Secure Your Seat

Crypto tracking and compliance firm Chainalysis is adding support for Bitcoin’s Lightning Network, according to a press release shared with CoinDesk.

  • Users of Chainalysis’ “Know Your Transaction” platform will be able to prescreen for Lightning withdrawals and behavioral alerts so they can be compliant in allowing BTC deposits and withdrawals from Lightning nodes, the statement said.
  • The Lightning Network is a layer 2 blockchain that enables faster bitcoin transactions so people can use the world’s largest cryptocurrency by market capitalization for small payments like tips and remittances.

Read more: An In-Depth Look Into the Lightning Network as a Bitcoin Scaling Solution

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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

CoinDesk - Unknown

Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Read more about
Lightning NetworkBitcoinChainalysis