Lightning: 2 Weeks, 2x Capacity
Data showing current activity on Lightning’s Bitcoin mainnet implementation reveals a network capacity of $148 million, up from $80 million April 10.
At one point, over 2000 active public nodes were available to process transactions, which can confirm almost instantly for a fee of less than one satoshi per byte.What’s more, the network has now reached 7000 active channels.
“The universe keeps expanding at an accelerated rate,” online cryptocurrency commentator Armin van Bitcoin commented tweeting about the progress.
We just passed 2,000 nodes with over 5,650 open channels on mainnet. The total network capacity is now $150,000 USD. The universe keeps expanding at an accelerated rate. Send $BTC instantly for 1 sat / tx or less… yes… less. #LightningNetwork #bitcoin #segwit pic.twitter.com/PXeuPbdtA3
— Armin van Bitcoin (@ArminVanBitcoin) April 22, 2018
The impressive rate of expansion marks increasing faith in the potential for Bitcoin to function as a go-to payment method rather than merely a store of value or investment tool.
The mainnet Lightning Network has existed less than five months, but in that time has grown to beat the much-touted Bitcoin Cash network, the premise of which was specifically to offer cheap transactions, on both node count and transaction price…