Bitcoin Lightning Network Nodes Up 23% Within 3 Months, BTC Acceptance For Payments Is Growing Strong
The number of nodes with active channels in Bitcoin’s Lightning Network (LN) continues to grow in light of increasing adoption by both institutional and retail investors.
From September 3 to December 3, the number of active LN nodes rose 23.13% to 3,534 nodes, according to Bitcoin Visuals data.
LN nodes allow Bitcoin to expand its solvency by reflecting balances in transactions across channels without the need to send physical BTC in the chain, similar to a layer 2 on the Bitcoin network.
Number of Bitcoin Lightning Network nodes | Source: bitcoinvisuals.com
The number of nodes is more and more stable during this time, despite the strong price fluctuations of BTC. In the past three months, BTC has hit a record price of over $ 67,000 but is down $ 20,000 at press time.
Driver for the development of LN.nodes
The growth of the nodes shows the need for a solution to Bitcoin’s scalability problem, where BTC is limited to around seven transactions per second at its base layer. The challenge of speed and stability was cited as a deterrent to the introduction of BTC in payments.
In particular, the addition of more nodes reflects the growing popularity of the Lightning Network in 2021, especially after it was integrated into Twitter’s system along with the implementation of payments in El Salvador.
The introduction of LN following El Salvador’s announcement that it would accept Bitcoin as its legal currency has dramatically increased the acceptance of LN in real life.
The top of the nodes on the network allows it to conduct more transactions. In general, the larger this number, the more Bitcoin is available for transactions in the network.
Additionally, adding nodes shows a better Bitcoin prospect because the more capacity the network grows, the more it can scale transactions and increase usage in areas like payments. In particular, Bitcoin is viewed as a store of value similar to gold, but LN can give this asset superior solvency when compared to other precious metals.
Many teams are currently being developed with different LN implementations. The aim is to make the network more stable, more secure, more efficient, more private and more user-friendly. The growing number of nodes shows that the goal of making BTC a universal means of payment for the day is becoming ever easier to achieve.
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Bitcoin Lightning Network Nodes Up 23% Within 3 Months, BTC Acceptance For Payments Is Growing Strong
The number of nodes with active channels in Bitcoin’s Lightning Network (LN) continues to grow in light of increasing adoption by both institutional and retail investors.
From September 3 to December 3, the number of active LN nodes rose 23.13% to 3,534 nodes, according to Bitcoin Visuals data.
LN nodes allow Bitcoin to expand its solvency by reflecting balances in transactions across channels without the need to send physical BTC in the chain, similar to a layer 2 on the Bitcoin network.
Number of Bitcoin Lightning Network nodes | Source: bitcoinvisuals.com
The number of nodes is more and more stable during this time, despite the strong price fluctuations of BTC. In the past three months, BTC has hit a record price of over $ 67,000 but is down $ 20,000 at press time.
Driver for the development of LN.nodes
The growth of the nodes shows the need for a solution to Bitcoin’s scalability problem, where BTC is limited to around seven transactions per second at its base layer. The challenge of speed and stability was cited as a deterrent to the introduction of BTC in payments.
In particular, the addition of more nodes reflects the growing popularity of the Lightning Network in 2021, especially after it was integrated into Twitter’s system along with the implementation of payments in El Salvador.
The introduction of LN following El Salvador’s announcement that it would accept Bitcoin as its legal currency has dramatically increased the acceptance of LN in real life.
The top of the nodes on the network allows it to conduct more transactions. In general, the larger this number, the more Bitcoin is available for transactions in the network.
Additionally, adding nodes shows a better Bitcoin prospect because the more capacity the network grows, the more it can scale transactions and increase usage in areas like payments. In particular, Bitcoin is viewed as a store of value similar to gold, but LN can give this asset superior solvency when compared to other precious metals.
Many teams are currently being developed with different LN implementations. The aim is to make the network more stable, more secure, more efficient, more private and more user-friendly. The growing number of nodes shows that the goal of making BTC a universal means of payment for the day is becoming ever easier to achieve.
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