Posted 2022-03-22 2:37 AM (#254477) Subject: New off-chain Bitcoin payment record.
The Lightning Network (LN) Layer 2 solution for scaling the Bitcoin blockchain has set a new historical record. 3551 BTC are blocked in the off-chain channels of LN nodes and the network capacity continues to grow continuously, despite the fall of the cryptocurrency market.
The graph combined with the capitalization in dollars shows the stability of the LN-channel crypto limit growth trend.
The development of the Lightning Network has been slowed down for a long time due to the complexity of technical implementation and the inability to pool liquidity between nodes. On the other hand, at the consumer level, there was no demand for off-line BTC transfers in sustainable volumes covering the costs of running an LN node.
Twitter's decision to implement bitcoin donations and the legislative status of cryptocurrency in El Salvador changed the picture. Despite the fact that only 14% of enterprises in the state have implemented BTC payments, the Lightning Network began to continuously fill with liquidity and set new records.
The solution of the second level, despite the complexity of the implementation, can provide BTC transfers at a speed of 40 million transactions per second. Theoretically, Bitcoin is ready to become an international currency for developing countries.
This option is so real that the International Monetary Fund began to include in the agreement for issuing loans to countries, a clause with the obligation to ban BTC. The first such country was Argentina. A country that has survived 8 defaults has no chance of regaining the confidence of citizens in the national currency, so the crypto-revolution of the financial system is developing from below.