Bitcoin's Lightning Network Keeps Growing As BTC LN Capacity Crosses the $3 Million Value Mark

Just last month we had reported that the total capacity of LN has increased to an all-time high of almost 703 BTC. This is equivalent to a whopping $2.75 million. Now, the number is said to have crossed $3 Million.

Bitcoin’s Lightning Network has been one of the most popular topics in the crypto space recently. The Lightning Network is a “Layer 2” payment protocol that operates on top of a blockchain-based cryptocurrency (like Bitcoin). It enables fast transactions between participating nodes and has been touted as a solution to the Bitcoin scalability problem.

One of the most important endorsements the Lightning Network has received came from Twitter and Square CEO Jack Dorsey. Dorsey has already stated his belief in Bitcoin as the native currency of the internet. His statements excite many in the space and now his latest comments on Tippin.me have caused even more growth.

Using the Tippin application and extension for Chrome and Firefox, users will be able to tip other individuals on the popular social media platform. Each Tweet will display a lightning bolt symbol that would be used to send some few satoshis to another user. Now, Jack Dorsey shared on Twitter that the initiative presented by Tippin is “excellent.” Although this is not a built-in implementation for Twitter, Tippin will be allowing users to expand the knowledge about the LN and how it works.

The popularity of Lightning Network was evident as “Bitcoin Lightning Torch” had been one of the most discussed topics in the crypto ecosystem for the past month. The idea is that Bitcoin transactions are being made by the users and passed on the next, just like an Olympic Torch. This has been a very successful marketing campaign for the Lightning Network, an off-chain Bitcoin solution that was created in order to make payments faster. Dorsey also joined the Lightning Torch.

Anthony Pompliano recently hammered home the fact that traditional credit card companies could lose out to Lightning Network and all of the advantages it offers.

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Sritanshu Sinha
Sritanshu Sinha
Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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