Expert calls Lightning Network growth a shock

In August 2023, the growth of routed transactions in the micro-payments network Lightning Network (LN) relative to the value two years ago stood at 1,212% — from 503 thousand to 6.6 million — which cannot fail to shock. River Financial.

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The real figures could be higher.

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To validate the figures presented, experts modelled the results several times.

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\”Despite only 5,000 BTC locked in LN, combined with the ongoing bear market, the network is achieving a great deal,\” — the document says.

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The value transferred also rose sharply. As of August 2023, the figures stood at $78.8 million and 2,950 BTC, versus $12.1 million and 303 BTC two years earlier (up 546% and 874%, respectively).

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Analysts say gaming apps have had a major impact on the network’s growth. Monthly, LN is used for these purposes by hundreds of thousands of people.

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Binance completed the rollout of the Lightning Network for deposits and withdrawals.

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Also, the micropayments network has already been adopted by Bitfinex, Kraken, River Financial, OKX and CoinCorner.

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Earlier Coinbase CEO Brian Armstrong promised to integrate the Lightning Network \”in some capacity\”.