The Bitcoin Lightning Network has seen increased usage in recent weeks, with network capacity briefly reaching the 1,000 BTC threshold.
Swift like lightning
The Lightning Network is a decentralized system of instant micropayments suitable for large transaction volumes, which eliminates the risk of delegating custody of funds to trusted third parties.
According to data from 1ML, the processing capacity of Lightning Network was approximately 1,000 BTC ($ 9,891,140) at the time of writing this article with 13,208 knots and 37,475 active channels.
With about $ 9.9 million of Bitcoin transactions processed by the Lightning Network, it should be noted that the number of users has increased.
It is also interesting to note that the United States, Germany, France and Canada are the first when it comes to the use and adoption of Bitcoin’s Lightning Network.
Only time can answer the question of whether the Lightning Network has the capacity to expand and potentially settle a larger fraction of the overall Bitcoin transaction volume.
Hello! Me is Segla Antoine Shadrac.
Passionate about finance and emerging technologies, such as blockchain, cryptocurrency and artificial intelligence, I have been part of this world of the future since 2017.