Bitcoin Lightning Network’s Public Capacity Surpasses 5,000 BTC

For the first time, the combined capacity of Bitcoin Lightning Network’s public channels has exceeded 5000 BTC.

BTC’s main scaling method, which is designed to make transactions faster and cheaper, has seen some positive developments with its expansion and development. This new achievement comes less than four years after the capacity reached 4,000 BTC.

The Final Push

With more liquidity on the LN network, users can make faster payments and possibly conduct larger transactions. The network has been subject to criticisms over the last four years, mostly from those who support other blockchains.

The crypto market may have had a difficult year in 2022. The scaling solution has maintained its upward trend, though it is slowing down. Its growth, particularly in the current bear market can be attributed organic utility and the necessity for it. Now for speculation, trading and leveraging or any potential pump and dump VC-funded incentive scheme that relies on retail market players for exit liquidity.

Messari, a market intelligence platform, had just announced,

“The Lightning Network has maintained its bull market in isolation over the past year. This protected it from any market downturn. LN’s key metrics have grown despite bitcoin’s 57% drop in price over the past year.”

According to the report, Lightning channel and node count have increased by 24% and 14% respectively YoY. This is indicative that the network is becoming a mature financial payments network, rather than a hobbyist network.

Arcane Research, another data analytics platform, says that the $100 million final push to 5,000 BTC was driven largely by River Financial and Loop By Lightning Labs increasing their channel capacity.

The infrastructure reached major milestones with the adoption of Bitcoin by El Salvador.

Growth Trend

Lightning Labs, an infrastructure company behind Lightning Network, has released the tesnet Taro daemon. This will allow Bitcoin developers to create, send, and receive assets on Bitcoin blockchain. The alpha release was intended to “Bitcoinize the dollar.”

In Series B funding, the company raised $70 million. The round was led by Valor Equity Partners. Baillie Gifford, a global asset manager, joined the group earlier in this year. This capital infusion is expected to make the network more capable of transacting trillions in volume each year, making it a rival to Visa.

Technology company MicroStrategy revealed seeking a full-time Lightning Network software engineer, according to a job listing posted last month, to build LN-based software-as-a-service (SaaS) platform. Cash App, Kraken and BitPay are just a few of the companies that have adopted LN in 2022.

CryptoPotato’s first post, Bitcoin Lightning Network’s Public Capacity Exceeds 5,000 BTC, appeared first on CryptoPotato.

Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami