The Bitcoin Lightning Network has grown 1,200% in just two years.
Emerging data from the Bitcoin-exclusive platform, River, indicates that the increased adoption of the Lightning Network is poised to play a pivotal role in enhancing Bitcoin’s viability as a medium of exchange. Over the span of two years , Bitcoin’s Layer 2 Lightning Network has witnessed an astounding surge of approximately 1,212%, processing a staggering 6.6 million routed transactions in August. This figure marks a remarkable leap from the 503,000 transactions observed in August 2021, as per data sourced from River, the exclusive Bitcoin exchange. In an insightful report dated October 10th, River’s research analyst, Sam Wouters, sheds light on the surge in routed transactions, which involve the participation of more than two nodes to facilitate transfers. This upward trend occurred despite a 44% dip in Bitcoin’s market value and a diminished level of online search interest. Wouters boldly declared in a follow-up post on October 10th, “The notion that...