Lightning Network on Bitcoin Growing rapidly
In 2017 everyone realised that bitcoin will not scale enough due to its low TPS ( Transaction per second) as compared to other already established systems like Visa.
Bitcoin – 7 TPS
VISA – 24000 TPS
Bitcoin suffers from scaling problem from beginning and Bitcoin community tried a lot of times with different proposals but this problem is not solved.
Lightning Network
In 2015 Thaddeus Dryja and Joseph Poon was described Lightning Network first time in whitepaper.
Check the current release of whitepaper.
Lightning Network is the perfect solution of scalability problem but its implementation was a big problem from beginning which was unrealistic in starting but after its implementation its growing very fastly.
Bitcoin Lightning Network capacity increased to 620 BTC ($2,116,159 ) and increasing currently at rate 20 BTC per 24 hour according to 1ML.com data.
The biggest advantage of Lightning Network is low fee and very fast speed which opens the doors for Bitcoin Adoption.
If you wanted to run your own lightning node then visit to – Easiest Bitcoin Lightning Guide !
