LightningNetwork scores a major milestone as BTC transactions soar
to data from The Block's dashboard, the Lightning Network printed a new all-time high in its U.S. dollar capacity from inception to date.Per the data, Lightning Network has finally breached a record-high capacity of 5,630 BTC worth approximately $172 million for the first time since April. While that growth has proven the high adoption of the Lightning Network, the protocol's Bitcoin capacity has soared as high as 42% while the capacity in U.S. dollar is up by a massive 105%.
That more BTC are now locked on the network is a testament to the positively growing perception of users on the proficiency of the cryptocurrency to serve as an alternative payment method. The launch of the Lightning Network was aimed at addressing some of the key woes of the premier blockchain as it concerns high fees and slow speed. Lightning Network is notably faster and cheaper, and it represents to the Bitcoin ecosystem what Layer 2 protocols like Arbitrum and Polygon are to the Ethereum blockchain.
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