With $2M Capacity, the Bitcoin Lighting Network Reaches Great Heights
Sudden nodes inflow on the Lightning Network of Bitcoin has witnessed potential growth to all-time new highs. The reason being that the scaling resolution now deals with more than $2 million in BTC.
Transformative Month for Lightning
Data obtained from the monitoring of resource 1ML.com puts forward that the previous week has witnessed a capacity shoot up of around 300% to 438 BTC.
The scrutiny of top capacity nodes on LN Implementation, the Bitcoin mainnet, reveals several new entries coming from the same provider. Majority of these entries dwarf the potential of the previous largest node of the network. The node was “fairly cheap” offering approximately 15 BTC.
There has also been an increase in the count of channels. The numbers have hit over 12, 000 according to a press release on 22nd November.
Reports from Bitcoin news earlier this month, suggest that the network had been a success in passing a remarkable milestone in the node count category. It reached 1000, with 118 BTC capacities- this is an all-time record.
Lightning Network Witnesses Adoption Symptoms
Meanwhile, as per the bitcoin news, big bounce grabbed the attention of organizations like Binance. On the storefront, adoption is slowly being considered by Bitcoin users. An image of a Melbourne-based store uploaded on Reddit on 22nd November brings forward the rare sight of Bitcoin acceptance banner which includes LN support.
As per the user’s comment, Mind Games’ decision of adopting the technology for making payments proves the fact that LN is real and is available in retail.
The path of expansion of the network has never been smooth during its mainnet history of just one year.
Owner of Shitcoin.com, Andreas Brekken introduced a huge-capacity node earlier this year. It brought about an increase in the transaction handling potential of the network before disappearing post a few weeks.
There are urges on the part of critics regarding caution on Lighting fast increasing before technical stoutness being perfected. These include Cobra- the Bitcoin.org maker, Peter Told- the core developer and others.