Crypto Currency News

Bitcoin’s Lightning Network grows 95% and already has 10,000 active nodes.

The Bitcoin Lightning network already has more than 10,000 active nodes that process almost instantaneous and low-cost operations. Between April last year and April 2021, the number of operating nodes doubled, from 5,349 to 10,439, which represents a growth of approximately 95%.

The momentum the decentralized network has taken, which lays the foundation for Bitcoin’s potential scalability, is also evident in the number of payment channels enabled. According to figures from Bitcoin Visuals, there are currently about 40,000 channels that allow immediate transactions.

Until Monday, April 5, each channel processed, on average, 1,657 dollars or 2.8 million satoshis. Twelve months ago, the amount of satoshis processed was relatively the same, but the dollar amount was significantly lower at USD 200.

Another even more relevant data is related to the processing capacity of the Lightning network. A year ago it could process transactions for 6.5 million dollars, which at that time represented about 920 thousand BTC. Today the amount of BTC committed is 1,189,000, that is, almost 70 million dollars at the current price of the crypto currency.

The figures were also corroborated by the 1ML information service, which indicated that the number of nodes with active channels has grown 11.5% in the last 30 days. In other words, between March and April, almost 1,200 nodes were added to the network.

“Expanding Bitcoin Lightning Network”

Countless bitcoin developers and companies are dedicated to creating new proposals for the Bitcoin Lightning network to gain more adoption on a global scale. In recent years, application creators and even exchanges are incorporating support for users to have access to operations of this type.

One of its main exponents is Lightning Labs, a company based in San Francisco, United States, which promotes the development of wallets, desktop applications and other open source proposals to promote technology.

INA recently reported that the company launched a website to the public for programmers, or those interested in the platform, to develop their own projects based on this second layer solution over Bitcoin.

Among the crypto currency exchanges that have announced support for operations on the Lightning network are: OKEx, Kraken, OKCoin and Bitfinex, for example. Other exchanges are expected to join the Lightning wave for faster Bitcoin transactions throughout the year.

In a previous interview with this newspaper, DarĂ­o Sneidermanis, CEO of Muun Wallet, an all-in-one Bitcoin and Lightning wallet, highlighted that developers and the community in general should not separate Bitcoin and the Lightning network because it is not necessary to assume that they are different things.

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