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The Bitcoin Lightning Network has taken a new step this week, bringing its total capacity to more than 600 BTC ($ 2 million) for the first time.
1 year, $ 2 million
Data from the 1ML.com surveillance resource confirmed this success, which occurred in early January 30.
The previous day had been particularly successful for the implementation of Bitcoin Mainnet Lightning, whose capacity had increased by 21 BTC in 24 hours. Now, with a total capacity of 601 BTC ($ 2,053,000), Lightning has added 15% over the past month.
Other measures have also shown improvements. The total number of nodes is now at 5768, the equivalent of a monthly increase of 16%, while there are now 22,750 channels – 36% more than there are a month.
The news coincides with the increasing adoption of technology. As Bitcoinist Reported, an ongoing awareness campaign, Lightning Torch, aims to put a transaction on the network, each user increasing its size.
Beyond the community-driven projects, the bona fide ready-made applications continue to link Lightning's technical beginnings with traditional understanding of its uses.
Bitcoinist published a two-part guide on Emerging Ecosystem this week.
Beat Altcoins
Lightning's technical enhancements go beyond enhancing Bitcoin's ability to adapt to meet the needs of a large influx of future users.
As Bitcoinist revealed this week, faster, cheaper deals mean that Lightning is enabling Bitcoin to become more efficient than some altcoins designed to replace it.
Despite its limited reach, Lightning is still processing more payments than altcoins at Bitrefill, a payment service, said the company's CEO.
Coin Center, which featured technology in the US Congress in the form of microtransactions, attracted Lightning to a completely different audience this month. The demonstration was made as part of a larger presentation on cryptocurrency by the group at the Congressional Blockchain Caucus.
"We were able to show the process of sending small amounts of bitcoins from our phones to the vending machine and watching it dispense sweets in real time. Network fees amounted to 1 satoshi per transaction, "Coin Center wrote in a follow-up blog post.
What do you think of the increased capacity of the Lightning Network? Let us know in the comments below!
Images courtesy of Shutterstock
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