Lightning Network’s growth continues unhindered as it crosses 6000 nodes
In an interesting development that might bring cheer to the faces of crypto enthusiasts, Bitcoin’s Lightning Network has achieved new milestones as its rapid continues across the board, according to a report by Bitcoinist. According to data from 1ML.com, the number of nodes and the transaction capacity of the Lightning Network has reached an all-time high.
The main reason for such a rapid growth of the Lightning Network rests with the fact that the network is gaining popularity outside the technical community and its user-centric approach is giving users to get familiar with it.
In another boost to the Lightning Network last week, Jack Dorsey, CEO of Twitter confirmed his participation in the Lightning Network’s Torch initiative, a relay transaction started by a community member last month.
As per a report by the Bitcoinist, Regular commentator Matt Odell invited Dorsey to send him an invoice via Lightning, which in turn would net him the transaction. Dorsey obliged, and the move led to an excitement on Twitter with a number of tweets from well-known figures following.
Dorsey further noted that he “loved” the concept of potential Bitcoin micropayments embedded in Twitter, ostensibly to improve the quality of content.
As per 1ML.com figures, there are currently a total of 6048 reachable nodes and almost 25,000 channels, while capacity has reached 660 BTC ($2.39 million).
In a positive development earlier this month, crypto startup Casa announced the launch of a browser extension for its lightning network-enabled Bitcoin node. As per the announcement, the browser extension is the easiest way to interact with both a local node and external websites using cryptocurrency .
Lightning is a layer-two payments protocol running on top of the Bitcoin network which facilitates transactions at higher speeds and larger volumes.
Image via Shutterstock
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