As per 1ML, the Lightning Network is currently supported by roughly four, 070 nodes, that house simply over twelve, 500 payment channels, a median of ten. 91 channels per node (at time of publication). Most of this growth has are available the later 1/2 2018 because the average age of every node is simply 137 days previous.
With infrastructural growth, the network is additionally seeing AN dealings in liquidity. At the time of writing, the network’s collective capability currently stands at 223.65 BTC. These, at bitcoin’s current worth, suggests that the Lightning Network holds over $1.2 million value of bitcoin for the primary time in its less-than one-year history.
The common capability for every node and payment channel comes in at zero. 114 BTC ($633) and zero. 019 BTC ($107) severally, and with group action fees at one Sat (roughly $0.000056), the network’s promise to deliver affordable microtransactions is holding up.
This marks the primary time that the Lightning Network has exceeded four,000 nodes. At a time once its total network capability currently stands at the associate degree uncomparable high of 134.42 BTC (about $760,454), barely 2 months when the network capability figure crossed one hundred BTC for the primary time ever.
It will be recalled that earlier in the week, Lightning Labs co-founder Olaoluwa Osuntokun was featured on the newest Forbes 30-Under-30 list when the startup with success raised quite $2.5 million for its industrial implementation of the Lightning Network to form bitcoin an additional viable means that of finishing up microtransactions within the manner of Venmo or money App.
A long-awaited development within the cryptocurrency house, the progress of the Lightning Network has been watched with nice interest by the community. Publicized as a possible resolution to Bitcoin’s the measurability drawback. The Lightning Network operates as a secondary layer on prime of Bitcoin’s base network.
Once its launch in early 2018, the Lightning Network saw immediate interest from developers, World Health Organization began building varied Lightning applications on the network.
Alongside its use as a secondary layer for micropayments, several developers have taken notice of the Lightning Network’s potential impact on the planet of sensible contracts additionally.
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