A lightning adoption? – Bitcoin’s Lightning Network has been growing at a rapid pace in recent months, and appears to be on track to be used more and more widely. This dynamic seems in any case confirmed by analysts from Arcane Research, who have just published a detailed assessment of Bitcoin’s second layer network, from its current growth to its future prospects.
Growth of Bitcoin’s Lightning Network led by El Salvador
The very principle at the heart of the creation of Lightning Network was to increase transaction capacities, and particularly micro-transactions, from the network Bitcoin (BTC). This second layer solution allows to relieve the transaction load of the main BTC network, while allowing exchanges almost instant and free.
However, according to a recent report byArcane Research, the recent strong growth of the Lightning network would be largely due to the introduction of Bitcoin as legal tender in El Salvador, September 7, 2021.
Indeed, a very large number of Salvadorans has already downloaded the wallet Chivo, which is precisely based on the Lightning Network. Thus, according to Arcane Research:
“Usage on the Lightning Network took a steep upward trajectory in September 2021, growth turned parabolic. This development was primarily driven by the introduction of bitcoin as legal tender in El Salvador. As of October 1, Salvadoran President Nayib Bukele said 2.7 million Salvadorans had already recovered the Chivo wallet. (…) [ces derniers] now have access to payment through the Lightning Network on their mobile phones. “
Likewise, since September 23, Twitter has launched its tip service “Tips”, which notably allows payment in BTC via the Lightning network.
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Increasingly exponential adoption of the Lightning Network?
Arcane Research has estimated that the adoption potential of Bitcoin’s second-layer network could go up to 700 million users by 2030 who will pay for games, videos, audio …
Obviously, such an increase in users would lead to a number of exchanges that are difficult to imagine today. For analysts, still in 2030, there could be no less than 364 trillion Lightning transactions per year.
Even though these numbers still seem a little crazy, a possible failure of central bank digital currencies (MNBCs), due to currency manipulation and inflation, could actually boost Bitcoin adoption. And if the main BTC network will always be used to “lock” large transactions into its blockchain, there is a good chance that all micro-transactions will take place on parallel chains, such as the Lightning Network, which has high scalability. of their number of transactions per second.
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