Unstoppable Lightning Network – We hardly need to present the Lightning Network (LN) of Bitcoin (BTC). This second layer solution (layer 2) is well known to crypto-enthusiasts. Notably thanks to the low cost and high speed of its BTC exchanges. This network ” flash » knows by the way ever-increasing adoption. It has thus just reached a symbolic number of bitcoins.
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The Lightning Network surpasses 5,000 bitcoins
The Lightning Network was designed to relieve the main blockchain of Bitcoin. The goal is to spare him the microtransactions. Helped by near-zero network fees and almost instantaneous exchanges, the Lightning Network is enjoying growing success. This is in particular a consequence of the setting up e-commerce in BTC.
In recent days, the Lightning Network has taken a new step, surpassing the 5,000 BTC of capacity. Despite the harshness of the current crypto winter, Bitcoin layer 2 has just achieved a new record. Only 1 year ago, almost to the day, the LN still only included only 3000 bitcoins.
With BTC back around $20,000, this is equivalent to $100 million. As can be seen on the chart below, taken from Bitcoin Visualswhile this is a record for the number of bitcoins on the Lightning Network (red line), the dollar equivalent of its BTC (blue line) had been much larger at the time of the 2021 bull run. The high point of valuation in the American currency had taken place at the beginning of November 2021, with $216 million stored in the Lightning Network.
Number of bitcoins (red) and their dollar value (blue) on the Lightning Network. – Source: bitcoinvisuals.com
Bitcoin and its Lightning Network risk being all no longer used only tools, such as software Taro daemon, will facilitate the creation of stablecoins and other tokens on these BTC networks. With the development of decentralized finance (DeFi) in addition to the growth of microtransactions in satoshis, the Lightning network has not finished sparking.
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