Bitcoin Lightning Network - Better Than Ever!
Bitcoin's lightning network is growing by the day and is bigger and better than ever, new user friendly wallets and amazing PR are are coming together to help Lightning take off.
Currently, the highly anticipated scaling solution can facilitate 557.58 BTC transactions at maximum capacity. This equates around $2.23 million US at current prices, which is no small sum.
Not only is Bitcoin’s lightning network growing, but its growth is also accelerating. Just 2 weeks ago, Blockstream, a blockchain development consortium contributing to Bitcoin’s lightning network, surpassed the 500 BTC milestone.
Therefore, it appears that the lightning network’s growth is not only contnuing but accelerating, even despite bearish sentiment and conditions in the overall cryptocurrency market.
Not only is the accelerated growth of Bitcoin’s lightning network positive news for the nascent digital asset class, but the Bitcoin blockchain and ecosystem as a whole have also experienced significant levels of growth. As previously reported by IIB, Bitcoin is stronger than ever.
To give some examples;
The r/bitcoin subreddit saw a 61% growth in members.
Bitcoin’s market dominance recovered from its all-time low of 32.5% to a yearly high of close to 58%.
Bitcoin’s hashrate has doubled, contrary to what the mainstream media is saying.
Bitcoin’s price dropped just over 80% while the majority of altcoins dropped well over 90%.
All in all, despite Bitcoin’s drastic reduction in price, it is doing better than ever.
Here is a video report by The Crypto lark on his YouTube channel about the same topic.
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