{"id":472430,"date":"2021-09-25T00:26:43","date_gmt":"2021-09-25T00:26:43","guid":{"rendered":"https:\/\/wncen.com\/?p=472430"},"modified":"2024-06-11T13:58:58","modified_gmt":"2024-06-11T13:58:58","slug":"salvadors-chivo-bitcoin-adoption","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/salvadors-chivo-bitcoin-adoption\/","title":{"rendered":"El Salvador\u2019s Chivo And Bitcoin Adoption In Mindblowing Facts And Stats"},"content":{"rendered":"

Why didn\u2019t we thought of measuring Chivo and Bitcoin adoption this way? Cero anecdotal evidence. Only facts, numbers, and reports from wherever we can get them. What do we know about the Chivo wallet\u2019s Lightning node? What apps besides the government wallet are the Salvadorans using? Are they happy with them? Investor and blogger Kevin Rooke has <\/span>a fresh take on El Salvador\u2019s Bitcoin<\/span><\/a> adoption and we\u2019re here to summarize it.\u00a0<\/span><\/p>\n

\u201cI wanted a deeper understanding of how real people in El Salvador are interacting with Bitcoin, so I went off in search of other success metrics.\u201d<\/span><\/p><\/blockquote>\n

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course<\/a><\/strong><\/em><\/p>\n

However, since \u201c<\/span>the Lightning Network is private by design,<\/span><\/i>\u201d it\u2019s hard to accurately measure \u201c<\/span>payment volumes and the flow of funds between various wallets and exchanges.<\/span><\/i>\u201d So, what did Kevin Rooke do? He looked everywhere else for hard data about Chivo and Bitcoin adoption. Let\u2019s explore what he found.<\/span><\/p>\n

\"BTCUSD<\/p>\n

BTC price chart for 09\/24\/2021 on Exmo | Source: BTC\/USD on TradingView.com<\/a><\/pre>\n
The Chivo Ecosystem Is Growing Fast<\/span><\/h2>\n
To measure the Chivo wallet\u2019s adoption, Rooke used the official information provided by President Bukele. Not ideal, but not uncommon either. It\u2019s easier to get stats about the Chivo Lightning node because you can <\/span>check all the public info here<\/span><\/a>. But wait, why is the Salvadorean government running a Lightning node?<\/span><\/p>\n
\u201cJust like every other participant on Bitcoin’s Lightning Network, Chivo runs a Lightning node. Since Chivo is a custodial wallet, all Lightning payments that Chivo users send to and from other Lightning wallets will transfer liquidity to and from Chivo’s node.\u201d<\/span><\/p><\/blockquote>\n
Through those sources, what did the author find out about the Chivo ecosystem?<\/span><\/p>\n