Bitcoin off-chain scaling solution the Lightning Network (LN) has reached a record $5 million in capacity as Bitcoin price rises fuel enthusiasm across the board.
Lightning Network Does Big Numbers
Data from monitoring resource 1ml.com confirmed the milestone for Lightning, which has upped its Bitcoin transaction capacity by almost 50 percent over the past month.
At press time April 2, Bitcoin mainnet Lightning had support for 1062 BTC ($5,080,000) – an all-time high in both BTC and USD terms.
Other metrics for the size of Lightning, which continues to gain publicity, also show records. Network nodes now number 7773, an increase of 11 percent versus one month ago, while the number of channels has reached 39,126, 24 percent more than at the start of March.
The latest figures come on the back of continuing progress from developers, with Lightning’s latest feature, Lightning Loop, being released late last month.
Like the majority of major releases, Loop aims to simplify the process of using LN to transact, given mounting…