The latest research shows that the lightning network as a bitcoin expansion solution is booming, and its number and capacity have almost doubled in the first half of 2019.
Lightning network achieved nearly 100% growth in the first half of the year
According to new data released by cryptanalysis company CoinGecko, from January 1 to June 30, the network capacity of Bitcoin's layer-2 protocol increased by 87%. At the same time, the number of nodes has increased from 2,298 to 4,576.
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The increase in bitcoin capacity and number of nodes, after the bitcoin price rose slowly at the beginning of the year, has risen to nearly $13,000 by the end of June.
Although the lightning network is still in the experimental stage, its goal is to achieve mainstream popularization to meet the demand for low-cost, offline transactions, and propose a solution to clean up the backlog of transactions on the bitcoin chain, which in the past was very Difficult to handle.
This year's Lightning Network's performance benefited from an event launched by Bitcoin enthusiast Hodlonaut in April – the Lightning Torch.
The Lightning Torch took the form of transactional delivery to test the strength of the agreement, including a number of celebrities in the tech world, including Twitter CEO Jack Dorsey.
Although the amount passed is limited – about 0.4 bitcoins – this time it has pushed the burgeoning lightning network to the mainstream audience to help it continue to expand within the Bitcoin community.
Community response "Lightning Network Failure Theory"
However, since July, some data have shown that the ability to pay for lightning transactions and the number of active payment channels have declined.
According to Reddit user u/hotol, this does not mean that the lightning network is going backwards. On the contrary, changes in user behavior can affect data. The default design of Lightning Network is to prevent public measurement of user usage.
“Therefore, tracking its public resources (mainly 1ML.com) does not lead to complete data, and thus the conclusion that the lightning network is shrinking constitutes FUD (worry, uncertainty and suspicion).”
“It can be said that the public capacity of the Lightning Network today far exceeds the capacity required for our daily payments. Due to the existence of the private channel, the actual capacity of the Lightning Network is much higher than that published by 1ML.com – and the capacity has been increasing recently. Private channel transfer."
The Lightning Network is still an experimental choice for bitcoiner, and it was not until the beginning of 2018 that it debuted on the Bitcoin main network. The user experience is still almost always a tech-savvy trader, and an active community helps it move to the mainstream.