Bitcoin Lightning nodes and channels hit record highs
Bitcoin Lightning nodes and channels hit record highs
The number of Lightning Network nodes has increased 160% over the past 12 months, while the number of channels is up 170% since January.
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The node count for Bitcoin's leading layer-2 solution, the Lightning Network (LN), has spiked to record levels following a surge of adoption.
According to on-chain analytics provider Glassnode'due south Monday "Week On-chain" report, the number of Lightning Network nodes increased by 160% during September to tag a record high of 15,600. At the finish of August, but vi,000 LN nodes were alive.
The number of channels, or connections betwixt different nodes, on the LN has also hitting a acme of 73,000, representing an average of iv.6 channels per node, the report added. Bitcoin Visuals is currently reporting an average of 9.3 channels per node equally of Sunday.
"This is effectually double the number of channels that were alive through the menstruum from 2022–twenty, with most of this growth occurring since May 2022."
The total capacity of the Lightning Network has seen "explosive growth" this year according to Glassnode. The metric refers to the full amount of Bitcoin (BTC) that can be transferred using the LN.
The network's chapters is currently at an all-fourth dimension high of ii,904 BTC ($123 one thousand thousand at current prices). The milestone marks an increase in capacity of 170% since January, with roughly 22% or 514 BTC having been added to the network in September alone.
The average channel chapters or amount of BTC sent per channel is currently 0.04 BTC (around $1,670), representing another best loftier for the network. This is an increment of 43% from the hateful channel size of 0.028 BTC throughout 2022 and 2022.
Related: OKEx to advance Bitcoin transactions with Lightning Network
The Lightning Network has recently been in the headlines as a outcome of the popular social media network Twitter integrating LN for tipping in addition to the network's national gyre-out across El salvador among the land's digital asset embrace.
The Lightning Network was proposed past two researchers, Thaddeus Dryja and Joseph Poon, in 2022 as a way to accept Bitcoin transactions off-chain to increment throughput and decrease costs.
Source: https://cointelegraph.com/news/bitcoin-lightning-nodes-and-channels-hit-record-highs
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