2023-06-27
The Bitcoin lightning network
hits a capacity of 5,630 BTC ($172 million) on June 24, 2023. In mid-June 2022
lightning was 4,000 BTC. Bitcoin can process around 7 transactions per second
which is extremely low and it takes 10 minutes or more to process transactions.
Lightning network is a Bitcoin solution to reduce transaction fees and increase
speed of Bitcoin transactions.
The growth of lightning network came
from adoption from crypto exchanges such as Kraken, Bitfinex, and Binance. Lightning network is a direct payment between
payer and receiver. It can process unlimited amount of transactions with
instant payment and a very low transaction fees.
Reference
Bitcoin On-Chain Data and Charts for Transactions, Addresses and Miners (theblock.co)
