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Bitcoin [BTC]: Lightning Network surpasses 6000 nodes; network capacity up by 15%

Biraajmaan Tamuly

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Bitcoin [BTC]: Bitcoin Lightning Network surpasses 6000 nodes; network capacity up by 15%
Source: Pixabay

Bitcoin has recently been on the positive side of news, and is one of many cryptocurrencies surging in the ecosystem. On the back of the recent bullish pump which saw the price valuation of all top cryptocurrencies experience positive movement, Bitcoin witnessed a low of $3400 and then surged to a high of $3700, before settling at the current price of $3650.90 at press time.

With this recent development in value and also a week of tremendous Twitter spotlight, Bitcoin’s Lightning Network is hitting new highs and records across the board in terms of mainframe implementation. Specifically, in the case of Lightning Torch, a relay transaction being bounced between nodes has already gained active support from Twitter CEO Jack Dorsey in what became a widely-publicized event last week.

According to data released from the monitoring resource 1ML.com, the website confirmed that the number of active nodes, channels and overall transaction capacity experienced over the month on the Bitcoin’s Lightning Network, are all higher than ever in its thirteen-month since its inception.

In the past 30 days, the network has seen impressive growth in terms of numbers which are as follows,

Number of Lightning nodes: 6,085; up 14.55%

Number of Lightning channels: 24,647; up 27.2%

Network capacity: 656.94 bitcoin (BTC); up 15%

The numbers can be further explained better with the help of charts regarding the network active traffic.

Nodes with and without channels | Source: bitcoinvisuals.com

The blue demographic column in the graph explains the number of nodes with channels the Lightning network has witnessed and the green column the number of nodes without channels.
With channels, the number of active nodes is 3051, whereas without channel it is only 62.



Channels per Node | Source: bitcoinvisuals.com

The graph above demonstrates the number of active channels per node where the blue line indicates no. of channels active in the 90th percentile strength which is at a number of 30 whereas the violet indicates the average strength overall and the number of channels being at 16.

The increase in network size comes as Bitcoin’s “layer 2” payment protocol Lightning Network (also known as “Lightning” or “LN”) continues to grow at a very rapid pace and gain publicity beyond the Bitcoin technical community to be a more user-driven interactive network to get the people familiarized with how the system works.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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