A major issue with the Bitcoin network has been the problem of scalability mainly because of the limited block size of 1MB. To bypass this problem, The Lightning Network was created as a second layer solution. There have been so many controversies on whether this is a real solution to Bitcoin’s block size problem.





However, a software engineer Igor Korsakov says the layer 2 protocol renders 99.85% of altcoins obsolete based on his personal calculations, although he did not share the details of how this calculation was done.





The lightning network has become more popular over time though. With the increasing popularity of Bitcoin and its adoption, most of the merchants who have adopted Bitcoin did so through the Lightning Network.





The Lightning Torch may have also significantly contributed to the popularity and Lightning Network transactions reached $2 million as at November 2018. That was even prior to the Lightning Torch program which took place in Q1 of 2019.

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