Lightning Network expansion rate impresses – $150k capacity, 2000 nodes and more than 7000 channels

Bitcoin second layer, Lightning Network keeps growing, both in its capacity and number of channels.

LIGHTNING: capacity doubled in 2 weeks

Network capacity doubled from $80k to $148k in less than 2 weeks, from April 10 to today.

User base also saw staggering rise, there are now over 2000 active public nodes that process LN transactions for a fee of 1 Satoshi per byte. Other important metric in LN is also increasing, the network has now reached 7000 active channels.

“The universe keeps expanding at an accelerated rate,” well known crypto Twitter account of  Armin van Bitcoin commented tweeting about the progress.

 

LN is basically still in beta and less than 5 months young, but this expansion rate is a good indication that Bitcoin core developers are on the right track when it comes to their scaling solutions.

LN is already bigger than Bitcoin cash network, has more nodes and beats BCH in what its supposed to be best at – low transaction fee.

USERS RECLAIM BITCOIN FEES CONTROL

Meanwhile, even main-chain transactions continue to see low transaction fees and empty mempool.

Even Bitcoin core developer Peter Todd, previously critical of the technology, now appears to be changing his view of LN.

As van Bitcoin among others noted over the weekend, the advent of SegWit and second-layer technology such as Lightning means legacy players in the cryptocurrency industry now had less sway over fee dictation.

“We don’t need Coinbase! We don’t need BitPay! We don’t need (Square’s) CashApp! We, the users, decide who to pay, what software to run and how much to spend on fees,” he wrote April 21.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Rene Peters

Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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