Bitcoin & Lightning Network, new record: capacity at 650BTC

The ability of Lightning Network keeps growing . The 500 BTCs of capacity exceeded on Christmas Day . In this month and a half the growth did not stop and the second layer of Bitcoin continues to grow at very good rates.

Lightning Network, for those who do not know, is a protocol designed to make the Bitcoin network scalable , characterized by almost instant transactions and very low commissions.

The latest statistics show that there are now over 6,000 nodes (at Christmas there were 4800, + 25%). The number of channels is instead equal to 24’680 and the capacity has grown to 657 BTC (about 2.4 million dollars) according to the data of 1ML . This is an important figure for a technology in beta status. Not surprisingly, some developers have advised to keep caution and to use the network only for small transactions , as still experimental.

We see some useful graphics generated by  “Bitcoin Visuals” that allow us to understand the rapid growth of LN. The first shows the growth in the number of channels:

bitcoin lightning network canali

The channels of LN.

The second shows the growing capacity of the network, in blue the USD in orange the BTC:

bitcoin lightning network capacity

The capacity of LN.

The growth of LN is very positive: it is absolutely necessary to improve the scalability of BTC, having quick and inexpensive transactions is essential for the adoption of Bitcoin.

Lightning Network: the map of the nodes

Recently, an interesting utility made possible to view a real map of Lightning Network nodes.

Here you will see the localized nodes on a real global map.  Others are instead located via IP. In addition to the nodes, you can also see the channels open between them. A nice gadget, which makes us understand how even Italy is (little) in the second layer of Bitcoin. Who knows if further information concerning nodes and channels will be added in the future .

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