The Bitcoin network continues to expand despite the continued fall in the price of digital currencies and the economic recession. Increasing the capacity of the Lightning network will lead to the global adoption of BTC.
The growth of Bitcoin Additions to the Lightning Layer 2 network have increased over the past year. The capacity of the Lightning network reached 4000 bitcoins less than four months ago.
Read more: The future and prediction of Bitcoin price in 2022
Increasing the capacity of the Lightning network
Bear markets lead to capacity building Lightning layer 2 network be. Despite the unfavorable macroeconomic situation and falling market prices, the Bitcoin (BTC) layer 2 payment solution continues to flourish.
Latin BTC network reached the capacity of 5000 bitcoins ($96 million). From now on, more bitcoins will be introduced to the payment channels of the global Lining network. Lightning will continue to grow.
The Lightning Network allows users to use Bitcoin (or Satoshi) to send or receive money faster with lower fees. The greater the capacity of the network, the more liquidity will be available. Users can experience faster payment speed and higher potential transaction volume.
Criticism of Bitcoin Lightning Network
Lightning It was first created in 2018. The network has recently come under fire. Bitcoin influencers such as Udi Wertheimer have talked about the possibility of network failure. According to Udi, no one will use the network. Lightning network capacity reached 4000 bitcoins in June. This network has become a reliable payment network over the past four years.
Microtransactions are an economic reality. In order for Bitcoin to become a standard in the global economy in the coming years, the Lining network must have sufficient capacity to support micro-transactions.
Galoy CEO Nicolas Burtey was one of the first to celebrate the increased capacity of the Bitcoin Lightning network. Bertie told Cointelegraph that the adoption of Bitcoin in El Salvador is a turning point in the growth of the Lightning network.
Bertie pointed out that the capacity of 5,000 bitcoins is very important. Pay-per-channel speeds are increasing. This is a meaningful criterion. Only the operators of the nodes can see the speed of the payments, so this is not very prominent in the media.
Microstrategy interest in Bitcoin
Many companies are interested in Lightning Network. MicroStrategy is currently hiring a Bitcoin Lightning Software Engineer. The company has 130,000 bitcoins on its balance sheet. MicroStrategy It is the largest holder of Bitcoin among public companies.
Strike, a company Bitcoin Lightning It is headed by Jack Mallers, who managed to collect about 80 million dollars to make a transition change in the payment system. Mallers and Strike spearheaded El Salvador’s Bitcoin adoption program in 2021.
Noro is responsible for Dakar Bitcoin Days in December. The Dakar conference is the first major Bitcoin conference in Senegal. Increasing the capacity of the Bitcoin Lightning network is a big step towards democratizing Bitcoin transactions in the world.
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