Lightning Network is Growing Rapidly, No One Notices
Wow, look at the crypto markets today, green across the board.
I had to do a double-take because I forgot what the color green looked like.
XRP is up 71%. EOS is up 26%!
But don’t forget about bitcoin. Lightning Network, the second-layer solution, is one of the best growth stories of the year.
Lightning Network uses smart contracts and payment channels for a payment protocol on top of bitcoin. And it’s key benefits are instant payments, scalability, low cost, and interoperability. Read more about Lightning Network.
Let’s check out the growth. Here’s the numbers from 1ML.
Keep in mind all those numbers were zero at the beginning of the year.
I think most two important metrics are channels and network capacity.
Here’s Lightning Network channels from BitcoinVisuals.
And here’s Lightning Network capacity from BitcoinVisuals.
BTC is the orange line and the blue line is the USD value.
And finally, the world view from Blockchain Caffé.
Long BTC ;-p
or Abra
and trade cryptos on Binance and Bibox...
And delegate SP with MinnowBooster
You now can send $1-2 using routing now to most stores/places accepting LN now.
What need to happen is watchtower to be added letting LN work better if a node ever goes out. Thus making the network more protected and more people locking bitcoin in the LN. Watchtower prevent hacks. Think of watchtowers as the antivirus software of the LN.
Interesting, thanks!
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