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The Bitcoin Lightning Network Grows Even If You’ve Forgotten About It – Cryptonews

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The Bitcoin Lightning Network Grows Even If You’ve Forgotten About It 101
Source: Adobe/Евгений Вершинин

You may be forgiven for forgetting about the Lightning Network (LN). The layer-two scaling solution that aims to help Bitcoin (BTC) manage a much higher workload, has been seemingly consigned to the sidelines by the ascent of bitcoin as a store of value and alternative asset.

Given its status on the peripheries, you may also be forgiven for thinking that the Lightning Network remains in a largely unfinished or undeveloped condition. However, experts and industry figures told Cryptonews.com that it has been enjoying increased usage over recent months, and that it’s technologically ready for wider deployment.

But with the dominant narrative still framing bitcoin as a store of value, and with some technical creases still in need of ironing out, it may be some time before Lightning helps the cryptocurrency become a widely used means of exchange.

Growth in nodes, and eventually growth in usage

It may not be used by all BTC holders, but the Lightning Network’s node count recently hit an all-time high. It now stands at just under 9,000 nodes, which is basically the same number as total Bitcoin Core nodes.

Having grown by 81% since January 1, 2020, this number is certainly impressive. That said, the total number of BTC locked into the LN is currently 1,080, which
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