Crypto Researcher Report Covers Latest Lightning Network (LN) Concerns About Peak Capacity
Over the course of the past few weeks, the debate surrounding LN’s scaling potential has come to the forefront once again. While many have argued that the Lightning Network’s intrinsic framework is flawed and ridden with loopholes, recent data seems to suggest that the network has continued to grow and that its capacity is currently at an all-time high.
For those of our readers who are not aware of what the Lightning Network (LN) is, it is essentially a second-layer protocol that has been designed to scale up the BTC network.
According to data available on bitcoinvisuals.com, LN reached its maximum capacity of $5.63 Mln a few days back (21st April to be exact).
More On The Matter
April has turned out to be quite an amazing month for LN — primarily because it was the first time when the network crossed the $5 mln tx mark. Additionally, it is also worth mentioning that the network scaled up to its tx peak of $5.68 mln on the 10th of this month.
- As per information sourced from 1ml.com, the total no. of functional LN channels in existence today stands around the 38,245 mark.
- Recent reports have suggested that the increasing number of LN channels are directly linked to the release of a new protocol called the ‘Lightning Loop’.
In closing out this piece, it should be pointed out that the aforementioned increase in LN’s capacity comes after the start of the now-famous Lightning Torch experiment— which was carried out as an exercise to raise awareness about Bitcoin’s scaling solution. The campaign was initiated by independent crypto researcher/investor ‘Holdonaut’ who is now apparently in the midst of a legal battle with Bitcoin SV creator Dr. Craig S. Wright.