The lightning network is gaining traction. The number of channels for both Bitcoin and Litecoin is increasing at a fast rate. According to 1ML, a lightning network search and analysis engine, Litecoin’s lightning network capacity has increased by 116% in the last 30 days.

Apart from network capacity, the number of channels, as well as the number of nodes for the lightning network, are up as well. Litecoin’s lightning network currently has 504 channels (up by 75% from the past month) and the network has 123 nodes (up by 24% since last month). The network currency has a capacity of 52 Litecoin.

One of the biggest factors in the increase of the number of Lightning nodes for Litecoin is due to Lightning support by Coingate. Coingate is constantly increasing its lightning capacity. It is by far the biggest node in terms of rate of capacity increase and the third largest node in terms of overall capacity.

We won't postpone the next big launch – #Litecoin #LightningNetwork is ON!!! We began the trial together with our first selected merchant @SurfsharkSecure. More will join soon! For now, dig into our blog post for more info! $LTC @SatoshiLite @LTCFoundation https://t.co/rGLrxYD3Fo pic.twitter.com/tzbbALS9hF — CoinGate (@CoinGatecom) January 17, 2019

Litecoin is aggressively pushing Litecoin payments. The Litecoin foundation has started taking steps to educate the merchants and make them accept Litecoin. Litecoin was recently featured in UFC after it sponsored a UFC match to gain publicity.

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Get the latest news on Blockchain only on Blockmanity.com. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better