Revolutionary new report shows Lightning Network growth of over 1200% since August 2021. New applications continually enter the market.
By Landon Manning
The Lightning Network, a node-based payment protocol designed to solve Bitcoin’s solvability problem, has shattered all expectations of success with its rise of over 1200% in the last two years.
The Lightning Network is a “layer 2” decentralized network based upon Bitcoin’s blockchain, designed to solve the scalability problem in bitcoin transactions. Essentially, Bitcoin can function as a trustless and decentralized global currency because of its proof-of-work system that can verify all operations on the blockchain, one block at a time. However, as Bitcoin has exploded in popularity and value over the years of its existence, the number of transactions that need verification has risen logarithmically, into the tens of millions per month. And every one of these transactions requires computing power to be verified.
Wikipedia
The tremendous growth of Bitcoin usage and adoption has come with a double-edged sword, that there are increasing millions of people who want to try out Bitcoin to purchase their coffee, a…
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