Bitcoin Lightning Network will have 700 million users by 2030: Arcane Research
Arcane Research claimed that in the next 9 years, we will see around 700 million users in Bitcoin lighting because of Increasing adoption rate.
In the present time, only Bitcoin is most trusted crypto asset and no one country can think about the adoption of other crypto asset to bring in the use for payment purpose because Bitcoin is decentralized and no one is controlling except the whole world whether they are buyers, sellers, traders, holders or miners.
The Increase in the price of Bitcoin leads to high transaction fees. The bitcoin community introduced the lightning network concept to bring bitcoin transactions faster and with a very small amount of micro fees. And this concept is helping the big institutions to use bitcoin for payment purposes, so that they don’t need to wait for the confirmation and high fees system.
Read also: Bitcoin Lightning Network gains capacity of more than 1,000 BTC in one year
Arcane Research did a deep analysis about the lighting network use and growth every year. And through the research, they found that in 2030 there will be around 700 million lightning network users.
Report also says that around 90% of El Salvador’s citizens will use lighting network, which are at the age of 15, in 2026. While lightning network will have users around 50 million with total $17 billions of transactions in the year.
And in 2030, households’ expenditures and remittances will use the Bitcoin lightning payment system.
Arcane also believes that there are huge chances that Netflix and Spotify like platforms will use lightning networks to allow their users for the micro payments for the purpose of small time interval time based services to users. And also gaming platforms will show their huge inclination toward lighting concepts to allow Bitcoin payment.
As per forecast estimation of Arcane Research, the lightning network will facilitate around 364 trillion lightning network transactions per year.
Recently the use of Bitcoin lightning network increased Because of the twitter’s initiative of tiping feature, Chivo wallet of El Salvador, Strike & CashApp.
Read also: Binance looking at Ireland to set-up headquarter
