• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
Nexo

Bitcoin Lightning Network Reaches Milestone $5M Capacity

Esther Kim by Esther Kim
2 years ago
in Bitcoin, Bitcoin Technology, News, News teaser
0

Bitcoin off-chain scaling solution the Lightning Network (LN) has reached a record $5 million in capacity as Bitcoin price rises fuel enthusiasm across the board.


Lightning Network Does Big Numbers

Data from monitoring resource 1ml.com confirmed the milestone for Lightning, which has upped its Bitcoin transaction capacity by almost 50 percent over the past month.

At press time April 2, Bitcoin mainnet Lightning had support for 1062 BTC ($5,080,000) – an all-time high in both BTC and USD terms.

Other metrics for the size of Lightning, which continues to gain publicity, also show records. Network nodes now number 7773, an increase of 11 percent versus one month ago, while the number of channels has reached 39,126, 24 percent more than at the start of March.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The latest figures come on the back of continuing progress from developers, with Lightning’s latest feature, Lightning Loop, being released late last month.

Like the majority of major releases, Loop aims to simplify the process of using LN to transact, given mounting interest in what remains an experimental technology.

As Bitcoinist reported, other more consumer-oriented services have also gone live recently, including a tool for ordering pizza using Lightning, something which creators intend to expand to cover Europe and Canada in addition to the US.

Lightning Torch ‘Burns’ On

Advocacy of Bitcoin Lightning Network has continued in recent weeks, despite more recently becoming overshadowed by the BTC price’s own gains.

Specifically, the Lightning Torch transaction relay has continued into its third month, involving more and more well-known figures from within and beyond cryptocurrency.

Aiming to increase the public profile of both LN and Bitcoin itself, the ‘Torch’ tests Lightning’s nascent implementation on the Bitcoin mainnet, and has so far remained successful.

The latest ‘holder’ of the Torch is Bitcoin Core developer Marco Falke and, before him, Bruce Fenton, former executive director of the Bitcoin Foundation, who received it March 31 from venture capital investor James Robinson.

Other recent owners include Bitcoin vouchers platform Azteco’s creator Akin Fernandez (known as Beautyon on Twitter), BitPesa CEO Elizabeth Rossiello and Litecoin creator Charlie Lee.

Mining pool Slush Pool, Abra CEO Bill Barhydt and developer Peter Wuille have also been involved, following on from perhaps the most conspicuous owner of the Torch, Twitter CEO Jack Dorsey.

Dorsey’s Square Crypto Shows Signs Of Life

Having pledged in February to bring Lightning functionality to both Twitter and his payments platform Square, Dorsey continued to excite cryptocurrency advocates by seeking to hire dedicated developers to realize his plans.

Jack Dorsey Joe Rogan Podcast JRE

The venture, Square Crypto, already has its own Twitter account, which officials already appear to be using to educate mainstream consumers about the cryptocurrency industry.

“If you’ve never foolishly handed your private keys to a roving pillar of shimmering blue light, a thousand floating eyeballs, or a travelling merchant who grants wishes in exchange for favors, you’re still new to crypto,” their most recent message reads.

The response to the position of Lightning developer has meanwhile been “overwhelming,” they added.

What do you think about the Lightning Network’s progress? Let us know in the comments below!


Images via Shutterstock, Bitcoinist archives, 1ml.com

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Esther Kim

Esther Kim

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.