Lightning Network Takes Off 2018-03-04 🚀 A Second Layer for the Internet of Value! 💰
Dear Steemit friends,
i reported on February 11th about the current usage of the testnet and the mainnet of the Lightning Network. Today i will show and update and a comparison to past numbers, let's look
Testnet usage
| Date | no. nodes | no. channels | increase nodes % | increase channels % |
|---|---|---|---|---|
| 1/12/2018 | 660 | 2163 | - | - |
| 2/11/2018 | 1811 | 5693 | +174% | +163% |
| 3/04/2018 | 1870 | 5042 | +3% | -11% |
That means numbers are nearly the same as 21 days ago and shows no rising interest in the testnet currently. But that should not be a concern because what's more important is the use of the mainnet.. we'll look at below.
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Mainnet usage - what really counts!
CLICK IMAGE
That's a different picture! The adoption increases on the mainnet. Users confirmed already that they want some skin in the game to push the development forward and find bugs with real transactions. Let's look at the pure numbers:
| Date | no. nodes | no. channels | increase nodes % | increase channels % |
|---|---|---|---|---|
| 1/24/2018 | 328 | 854 | - | - |
| 2/11/2018 | 633 | 1819 | +93% | +130% |
| 3/04/2018 | 945 | 2121 | +49% | +17% |
The following diagram show a linear development of no. of nodes:
and a decreasing number of channels:
That means we see currently no exponential growth or a viral effect for the Lightning Network. It progresses without any hype. To put that in perspective the no. of nodes nethertheless nearly tripled! in 39 days!
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Recent News!
To see the instant transaction on the lightning network you can try to buy a virtual coffee like in the video below by Ivan on Tech
Using Lightning Network - Programmer explains - video by Ivan on Tech
He explains the early stage of the Lightning Network and manual work for a transaction but also compares it to the early days of the internet where routing was not automatically but is now natural for everyone. There is also a interesting discussion between programmers which shows some confusion and also the Lightning Labs (developer) may declared that Lightning Network is not even in Beta phase which means lot work to do. There is some controversy but i think it's normal that some functions don't work currently like some users reported because it is in heavy development and for testnet recommended to find bugs.
The famous Pizza guy is back?
Most of us know the story of the man who bought 2 Pizzas for 10,000 Bitcoin which are valued now about $100 million! Recently he repeated the buy with the Lightning Network! The example shows that Lightning Network is in it's infancy but already usuable for buying real things.
How is your prediction for adoption of Lightning Network in 2018?
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Many exchanges too already adopted that seems like 2018 is going to be all about lightening adaptation
ZigZag could be one of the groundbreaking exchanges on top of Lightning Network. Thank you!
wow this exchange could be a big Hit in no time :D
you ve been really informative about this one @onetin84 .Really good job
Thank you! btw.. was my explanation about delegation on discord helpful?
A lot and thank you.I just need to ask you 1-2 more things
ll send you on discord and you can answer me when you see it(if you know)
Great article. Upvoted
Thank you, glad if it was usefull for you!
thanks for this imformation...
Thank you for visiting my blog!
Well it will take time but as you said as one has been in this market no one really wants to be the next Pizza buyer ;)
In the coming days it sure will have the significance that it needs !
I think it's paradox. On one hand we're focusing on value appreciation of Bitcoin and don't move them on the other hand we need the exchange of value for real mass adoption. I think everybody should begin to use cryptocurrencies like regular money to force the adoption progress.. if not.. others will do with centralized, controlled money. HODL should be just one part.. the other part should be teaching people how to use Bitcoin in daily life. The needed apps and stores should soon emerge and the Lightning Network or initiatives like by [Paypal] support that. I hope soon many people see cryptocurrencies as real money or cash like the USD or EUR. That's the real breakthrough! Thank you!
Yes! Onetin, lightning network is fast growing one. But I don't know about how to use lighting network?
just be patient. Soon there will be wallets who will provide lightning transactions. One of the forerunners seems Zap.. didn't tried yet.
Okay, thank you!
Like
the linear path shows it will keep on growing all the way its good actually for long term growth too
@onetin84, You were nicely explained and introduced extra info about Lightning Network. I knowledge much now coz your blog. Thanks. Nice you decided to share to us.
I looked and compare you given details completely. Lightning Network showing some gain process currently and I guess it will increase much more in this year. Thanks for updating @onetin84.