CRYPTONAIRE
WEEKLY CRYPTO investment journal
Bitcoin’s Lightning Network Now Has 10K Active Nodes and $69M in Locked Value
The network has quietly grown by a factor of two over the past year, with everyday users and major exchanges embracing the scaling technology. The number of nodes on Bitcoin’s Lightning network has nearly doubled year over year, according to public data. The Lightning Network – a layer atop the Bitcoin blockchain that uses its own special rules to facilitate cheaper, faster transactions – had about 5,335 public nodes in April 2020. Now that number sits at 10,348, a roughly 94% increase. This figure only includes nodes with public connections, however, and the real number is likely higher when factoring nodes with private connections. As Bitcoin’s on-chain fees grow alongside bitcoin’s price, scaling technologies like Lightning offer users a cheaper and faster way to transact. If bitcoin will ever be used as a day-to-day currency, a scaling solution like Lightning is paramount, and avid bitcoiners even use the network today to purchase goods and services. Read more...
Cryptonaire Weekly | April 6th 2021
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