Bitcoin Lightning Network Continues To Thrive Amid Crypto Downturn

The crypto downturn may have continued to ravage this industry’s startups, with an exchange even deciding to shutter all operations, but one facet of this nascent sector has continued to swell. For those who missed the memo, this facet is the Lightning Network, an off-chain system that facilitates instant, low-cost, scalable Bitcoin transactions.

Related Reading: Bitcoin Lightning Network Booms Amid “Crypto Winter”

Lightning Network Capacity Surmounts 600 BTC

Per data gathered by 1ML, the Lightning Network has surmounted a capacity of 600 BTC, just weeks after it breached the 500 BTC milestone. As of the time of writing, the scaling system can facilitate upwards of 628 BTC, $2.18 million, at maximum capacity.

While some skeptics, like Ethereum’s Eric Conner, took to Twitter to critique the seemingly low levels of Lighting adoption, many say that the lackluster capacity figures are for good reason. Moreover, seeing that Lightning has worked (and quite well at that), some see…

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2019-02-03 00:00:56

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