Discover the Lightning Network, a game-changing solution for Bitcoin's scalability issues. This second-layer system enables instant, low-cost transactions by creating off-chain payment channels, significantly reducing congestion and fees. However, accurately estimating the network's transaction metrics is a challenge due to its complex architecture. But, using data from a significant portion of nodes, we can reveal a startling trend... In August 2023, there were approximately 6.6 million routed transactions, a staggering 1,212% increase from just two years prior. But what does this mean for the future of Bitcoin and global transactions? Find out in our full Alpha article...
Lightning Network transactions increased by 1,212% in two years Lightning Network transactions increased by 1,212% in two years
Surge in lightning network transactions and volume underscores maturing second-layer solution.
2 min read
Updated: Oct. 17, 2023 at 7:27 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.