Lightning Network continues to grow: liquidity now over 3900 BTC

Since the launch of the Lightning Network in 2018, transaction capacity has grown rapidly. Currently, the total liquidity in the network has risen to 3915.71 BTC, a new all-time high.

Regardless of the falling price, the Bitcoin network continues to grow and develop unabated, as evidenced by the high hash rate and the number of nodes in the network. The Lightning network is also growing steadily. The Lightning Network is a new technology that makes bitcoin transactions faster and cheaper without sacrificing the decentralized security that the blockchain offers.

The lightning network works through payment channels that users open to each other. To make lightning transactions, bitcoin must first be added to such a payment channel. The bitcoins in the payment channels are used for liquidity, so that funds can flow through the network. The amount of bitcoin that is on the second tier of bitcoin is currently 3,925.72 BTC, a record high.

The other statistics of the lightning network show that not only the regular Bitcoin network is growing, and that is good news. The Lightning Network is one of the ways Bitcoin can scale up for mass use.

The technology surrounding the Lightning Network is still developing. Because transactions are virtually free and lightning fast, the possibilities are enormous. Lightning enables microtransactions worth a thousandth of a cent (or even less). For example, the integration of Lightning in computer games or podcasts is being looked at, where you can pay the podcast maker directly via Lightning for every second you listen.

Lightning is also being worked on in the Netherlands. For example, Bitonic’s exchange, BL3P, will soon integrate Lightning into the platform. This makes it possible to quickly and cheaply send bitcoins to the platform or withdraw them to your own wallet.

Do you want to know more about the Lightning Network? Look here for all our articles about this development.

 

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