Bitfinex CTO Paolo Ardoino published the results of the crypto exchange with a focus on Bitcoin’s Lightning Network.
Bitcoin’s Lightning Network: the overall situation at Bitfinex
The CTO of Bitfinex crypto exchange, Paul Ardoinoshared on Twitter via Bitcoin’s Lightning Network (LN).
So @bitfinex makes an average of ~10,000 #bitcoin LN ⚡️ deposits/withdrawals per month.
The average amount is ~0.02$BTC. @bitfinex nodes have cumulatively passed 1.2k $BTC.
“And yet it moves.”
— Paolo Ardoino 🍐 (@paoloardoino) January 26, 2023
Bitfinex operates both the largest and the third largest Lightning node and now marks a record throughput on the LN network.
That’s an average of 10,000 deposits and withdrawals per month across Bitcoin’s Lightning Network, averaging 0.02 BTC, which is $460 at the time of writing. Not only that, now Bitfinex nodes have surpassed 1.2,000 cumulative BTC.
Bitcoin’s Lightning Network: The network capacity is over 5,000 BTC
According to the latest statistics, the capacity of the Lightning network is over 5,266 BTC.
#LightningNetwork https://t.co/Q0CaYRhLWD observed:
16,060 knots
76,024 channels
5,266,073 BTC capacity ($121,055,900)
medium node capacity: 0.005 BTC ($114.93)
last 24h:
+34 nodes +394 channels +0.361 BTC ($8,302)#Lightning #LN #bitcoin $BTC
— Lightning Network Statistics ⚡ (@LNstats) January 26, 2023
As much as 400 BTC more than was revealed last September 2022. In dollar terms, the equivalent of almost $92 million in September has now increased to over $120 million.
The capacity of Bitcoin’s Lightning Network refers to the number of BTC that can be used within Bitcoin’s second layer, allowing for increasingly faster and cheaper transactions.
Paolo Ardoino confident about LN
Last summer, Paolo Ardoino described how BTC’s LN works. Not only that, while critics talk about Bitcoin’s scalability and speed issues, according to Ardoino, instead, this continued increase in capacity appears to be a testament to mass confidence in greatly increased adoption of the Lightning Network.
Ardoino previously predicted that will be the case LN, which will increase Bitcoin payments.
An example that makes this theory possible are users of Chivo, the state-owned BTC wallet in The saviour (a country where BTC is legal tender) who are unaware that they are using the LN network while conducting their BTC transactions.
Ardoino had also reported Data from Arcane Research in which estimates showed that by the summer of 2021 There were only 100,000 LN users worldwide, compared to 80 million only reached in March 2022.
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