Altcoin News: Lightning Network Bandwidth on Bitcoin Blockchain Topped 1,000 BTC

March 18, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The bandwidth capacity of the Lightning Network in the Bitcoin blockchain exceeded 1,000 BTC, an increase of more than 54% over the last month.

On March 15, 2018, Lightning Labs CEO Elizabeth Stark announced one of the first official beta versions of the Lightning Network (LN). Then the decision was supported by Twitter CEO Jack Dorsey, Tesla and SpaceX investor Bill Lee and other prominent members of the cryptocurrency community.

A year later, according to the 1ML.com resource, LN ‘s throughput was 1056.83 BTC (over $4.2 million). The network bandwidth, which reached 601 BTC in late January, has grown by more than 54% in the last 30 days only. At the same time, the number of LN channels increased by more than 47% last month, reaching 39,222 channels. The number of network nodes also increased by 17.89% — up to 7,381 over the same period.

In the field of the actual adoption of LN, there has also been a considerable success. Jack Dorsey praised the decision on scaling, noting that it is only a matter of time when it will be implemented in his social network. Earlier, he also supported the initiative of the Torch Lightning Network, which later managed to reach Iran despite sanctions.

In addition, the other day it became known that Bitfury was bringing LN to the blockchain platform for processing HadePay payments, and at the beginning of the month, the Lightning Network transaction was sent for the first time by direct radio communication.

Author: Marko Vidrih