Over the years, Bitcoin’s lightning network has been growing so well, and according to recent data, the capacity of the layer-2 payments solution has crossed the 5,000 BTC benchmark.
The Bitcoin lightning network reached an all-time peak of 2,738, in September 2021. In October the same year, it reached a new record high of 3,000 BTC, for the first-ever time.
Fast forward to October. The lightning rework has now passed the 5,000 BTC benchmark, which means that layer-2 payments solutions have increased by 2k BTC in one year.
According to lookintobitcoin data, this data shows that the layer-2 payment solution capacity has increased over time since its inception in 2018.
As illustrated above, the capacity increase started in the middle of this year despite the decline in Bitcoin’s price. It shows regardless of the plummet in Bitcoin’s price, the lightning network amplified in growth, increasing its adoption.
The lightning network is a layer-2 payment solution built to facilitate Bitcoin’s transactions. It allows users to send and receive BTC faster, with lower fees. An increase in network capacity results in a greater amount of BTC. liquidity.
John Carvalho CEO of Synonym tweeted about this benchmark milestone and said a “lightning fairytale” has been made into “reality.” He pointed out another fad that states more than 20% of the bitcoin lightning network capacity is represented by Bitfinex. It offers more than 1000 BTC through over 2000 channels.
Strike, the leading digital payment platform built on Bitcoin’s Lightning Network, has announced that it received $80m of funding last month to accelerate instant Bitcoin payments.
In addition, last week, Michael Saylor’s MicroStrategy disclosed it is seeking to hire a Bitcoin Lightning Software Engineer to build a Lightning Network-based SaaS platform. It also disclosed that it was looking for solutions to attract large numbers of people to the Lightning Network.
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