{"id":467405,"date":"2021-07-13T22:00:51","date_gmt":"2021-07-13T22:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=467405"},"modified":"2024-06-11T13:57:01","modified_gmt":"2024-06-11T13:57:01","slug":"bitcoin-btc-lightning-record-capacity","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-lightning-record-capacity\/","title":{"rendered":"Bitcoin Lightning Network Reaches Record Capacity"},"content":{"rendered":"

Bitcoin\u2019s second layer payment protocol Lightning Network <\/a>has been expanding unnoticed by most users. First proposed in 2015 and launched in 2018 as a beta, its adoption and capacity have accelerated during the past few months.<\/p>\n

The Lightning Network allows users to send fast and low-cost transactions via payment channels. Unlike the Bitcoin-based layer<\/a>, lightning transactions are processed \u201coff-chain\u201d via a mechanism called gossip and probing that enables nodes can follow possible transaction routes.<\/p>\n

Arcane Research published a recent report wondering if this Bitcoin-based network will have a similar momentum as decentralized financed in July 2021, during the \u201cDeFi Summer\u201d<\/a>. A mania broke out during this period and seemingly everyone started to interest in DeFi dApps.<\/p>\n

Data from this research firm indicates that the Lightning Network increase its capacity from 1,100 to 1,200 in 39 days. Later, from 1,200 to 1,300, it took it 34 days, as the chart below shows.<\/p>\n

\"Bitcoin
Source: Arcane Research<\/figcaption><\/figure>\n

\u00a0<\/strong>At the moment, Bitcoin\u2019s Lightning Network has a capacity of around 1,800 BTC. Its expansion period has been contracting, it took it 5 days to rise from 1,700 BTC to its current levels of around $60 million worth of BTC.<\/a><\/p>\n

In contrast, this metric stood at 1,040 BTC at the start of 2021. Thus, Arcane Research records a 70% increase in under six months. In comparison, it took this network three years to go from 0 to 1,000 BTC.<\/p>\n

As a consequence, there has been an exponential rise in the number of nodes activate on the network. This metric stands at 22,705, but Arcane Research noted that only 12,079 operate as active payment channels. The former channels have surpassed 55,000. The research firm claimed:<\/p>\n

The rapid growth could be a consequence of the increased use of the Lightning Network, which has seen greater exposure and demand in recent weeks, with El Salvador\u2019s government making bitcoin legal tender.<\/p><\/blockquote>\n

Bitcoin Could Jump To Mainstream Adoption On Top Of The Lightning Network?<\/h2>\n

This factor could be the first step for BTC to reach a wider user base. The Bitcoin Beach-based in El Salvador initiative has demonstrated that BTC can be leverage for an everyday, low-cost use case.<\/p>\n

As the former Google employee Michael Levin argues in his post<\/a>, \u201cLightning Network, Bitcoin\u2019s Crossing the Chasm Superpower\u201d, this payment protocol could drive a new wave of BTC adoption. According to its adoption curve, BTC is at an early adopter\u2019s phase and must close the gap between them and an early majority.<\/p>\n

\"Bitcoin
Source: Michael Levin<\/figcaption><\/figure>\n

These users are usually more pragmatic with specific needs that require a solution to meet them. Fast, low-cost transactions with the Lightning Network could be the perfect use cases for Bitcoin to create a \u201cbeachhead\u201d into the mainstream. Levin said:<\/p>\n

With the Lightning Network and motivated entrepreneurs, Bitcoin, the network, unlocks the power of human ingenuity and optionality in its race to cross the chasm.<\/p><\/blockquote>\n

At the time of writing, BTC trades<\/a> at $32,409 with a 1.4 loss in the daily chart. Bitcoin is currently facing a high amount of selling pressure and could see further downside unless the bulls made a decisive move.<\/p>\n

\"Bitcoin
BTC trends to the downside in the daily chart. Source: BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s second layer payment protocol Lightning Network has been expanding unnoticed by most users. First proposed in 2015 and launched in 2018 as a beta, its adoption and capacity have accelerated during the past few months. The Lightning Network allows users to send fast and low-cost transactions via payment channels. Unlike the Bitcoin-based layer, lightning transactions are processed \u201coff-chain\u201d via a mechanism called gossip and probing that enables nodes can follow possible transaction routes. Arcane Research published a recent report wondering if this Bitcoin-based network will have a similar momentum as decentralized financed in July 2021, during the \u201cDeFi Summer\u201d. A mania broke out during this period and seemingly everyone started to interest in DeFi dApps. Data from this research firm indicates that the Lightning Network increase its capacity from 1,100 to 1,200 in 39 days. Later, from 1,200 to 1,300, it took it 34 days, as the chart below shows. \u00a0At the moment, Bitcoin\u2019s Lightning Network has a capacity of around 1,800 BTC. Its expansion period has been contracting, it took it 5 days to rise from 1,700 BTC to its current levels of around $60 million worth of BTC. In contrast, this metric stood at 1,040 BTC at the start of 2021. Thus, Arcane Research records a 70% increase in under six months. In comparison, it took this network three years to go from 0 to 1,000 BTC. As a consequence, there has been an exponential rise in the number of nodes activate on the network. This metric stands at 22,705, but Arcane Research noted that only 12,079 operate as active payment channels. The former channels have surpassed 55,000. The research firm claimed: The rapid growth could be a consequence of the increased use of the Lightning Network, which has seen greater exposure and demand in recent weeks, with El Salvador\u2019s government making bitcoin legal tender. Bitcoin Could Jump To Mainstream Adoption On Top Of The Lightning Network? This factor could be the first step for BTC to reach a wider user base. The Bitcoin Beach-based in El Salvador initiative has demonstrated that BTC can be leverage for an everyday, low-cost use case. As the former Google employee Michael Levin argues in his post, \u201cLightning Network, Bitcoin\u2019s Crossing the Chasm Superpower\u201d, this payment protocol could drive a new wave of BTC adoption. According to its adoption curve, BTC is at an early adopter\u2019s phase and must close the gap between them and an early majority. These users are usually more pragmatic with specific needs that require a solution to meet them. Fast, low-cost transactions with the Lightning Network could be the perfect use cases for Bitcoin to create a \u201cbeachhead\u201d into the mainstream. Levin said: With the Lightning Network and motivated entrepreneurs, Bitcoin, the network, unlocks the power of human ingenuity and optionality in its race to cross the chasm. At the time of writing, BTC trades at $32,409 with a 1.4 loss in the daily chart. Bitcoin is currently facing a high amount of selling pressure and could see further downside unless the bulls made a decisive move.<\/p>\n","protected":false},"author":535,"featured_media":467406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144],"class_list":["post-467405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Lightning Network Reaches Record Capacity<\/title>\n<meta name=\"description\" content=\"Bitcoin\u2019s second layer payment protocol Lightning Network has been expanding unnoticed by most users. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Lightning Network Reaches Record Capacity","url":"http:\/\/wncen.com\/news\/bitcoin-btc-lightning-record-capacity\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-btc-lightning-record-capacity\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-BTC-BTCUSD-8.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-BTC-BTCUSD-8.jpg?fit=1003%2C566"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2021-07-13T22:00:51Z","datePublished":"2021-07-13T22:00:51Z","dateModified":"2024-06-11T13:57:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Lightning Network Reaches Record Capacity\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-lightning-record-capacity\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-lightning-record-capacity\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/Bitcoin-BTC-BTCUSD-8.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/Bitcoin-BTC-BTCUSD-8.jpg?fit=1003%2C566\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-07-13T22:00:51Z\",\"datePublished\":\"2021-07-13T22:00:51Z\",\"dateModified\":\"2024-06-11T13:57:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-BTC-BTCUSD-8.jpg?fit=1003%2C566","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/467405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=467405"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/467405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/467406"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=467405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=467405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=467405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}