Lighting Network on Bitcoin’s overall capacity recently reaches a new milestone of over $2 million (600 BTC).
According to data from the tracking website 1ML.com, the Bitcoin blockchain has grown noticeably by 21 BTC per day, adding up about 15% of its total capacity compared to last month. The number of nodes is also increasing steadily by a monthly rate of 16%, now standing at 5,768; whereas 36% more channels have been counted to the network over January 2019.
Despite the universal reach to the service, Lightning CEO also confirmed to process more Bitcoin transactions than any altcoins, with lower fees and faster timeframes to meet the needs of its growing abundance of present and future users.
With the increasing adoption of cryptocurrency technology, a community-based consortium known as Lightning Torch is reportedly taking place to enable a global Bitcoin payment network for end-users. This project is expected to bridge the gap between Lightning’s concept and the general understanding of it.
Similar efforts were made earlier in January when a briefing held by Coin Center at the Congressional Blockchain Caucus has successfully illustrated the functionality of microtransactions, as part of the group’s aim to understand and appreciate the technology.