crypto

LIGHTNING NETWORK SURPASSES 4000 NODES

Bitcoin’s nascent mainnet implementation of the Lightning Network (LN) has reached a new milestone, surpassing 4,000 nodes for the first time.


LIGHTNING NETWORK HANDLES $750K

Data from monitoring resource 1ML confirms the latest growth of Bitcoin’s second layer designed for faster/cheaper payments, Lightning Network, which at press time has a total of 4,028 nodes, of which 2,911 were public. (Though many more hidden nodes could likely exist.)

The mainnet network has a capacity of 112.5 BTC ($705,000) with the largest single node, ‘fairly cheap,’ providing just under 17 BTC of that amount.

Earlier Tuesday, the capacity figure had reached 116 BTC ($746,000), a new all-time high for the mainnet.

While Lightning Network, still remains a decidedly experimental concept, with developers still working on basic security as well as robustness rather than user experience or the ease-of-use, technical achievements as well as consensus continue to progress.

As a result of a summit held in Australia in September, Alex Bosworth, the Lightning infrastructure lead at the network’s corresponding developer, Lightning and CEO of payment gateway Yalls.org, on Monday revealed which improvements the community has agreed to implement.

In time for the next version of the Lightning Network, a total of thirty changes would thus go live. These include dual-funded channels, multi-path payments, and hidden destinations, along with more technical features.

STELLAR LUMENS TO ADD LIGHTNING BY 2019

While the technology is also active for Litecoin, Stellar $0.24 this week meanwhile also pledged to debut the Lightning Network on its own network before the end of the year.

In a blog post, officials said they had “noted the market demand for more private channel transactions” and would thus hasten implementation.

“Lightning Network will have a huge positive effect on Stellar’s long-term scalability and security,” they added.

We’ve been aware of Lightning Network’s potential for Stellar for a while, and we’ve recently collaborated with Stellar advisor and Bitcoin Core developer Jeremy Rubin to optimize our implementation.

The altcoin this week moved into the top five cryptocurrencies by market cap, relegating EOS to sixth place.

The Bitcoin Lightning Network today can be visualized as follows:

Bitcoin Lightning Network

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