Bitcoin Lightning Network Reaches 10,000 Nodes For The First Time

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The Bitcoin network consistently proves naysayers wrong and keeps soaring higher. As we reported recently, it was said that the network was experiencing problems when it lost a considerable percentage of it’s hashrate. However now, the Bitcoin Lightning Network has set a new record as for the first time ever, the number of nodes reached 10,000.

The statistic was revealed by 1ML, a service which provides real-time data on the Bitcoin Lightning Network. According to the site, the number of nodes grew about 3.2% in the period spanning the last 30 days. Furthermore, current data on 1ML shows that the number of nodes with active channels has hit 5,979 out of a total of 36,216.

The Lightning Network is a Layer 2 blockchain payment protocol that allows the Bitcoin network complete transactions with very high speeds.

Back in July, the core team of the Lightning Network created a new tool which would help detect possibly crippling network problems before they come to the fore. Another use for this tool is for individual users to track trends and the general activity on the network for various purposes.

One of the biggest entities behind the Lightning Network is LNBIG, an unknown entity that has sometimes constituted more than 40% of the network’s capacity. The person behind the LNBIG is very bullish on the Lightning Network and made this known in a conversation with The Block Crypto, the person said:

“I have no doubt in Bitcoin and the Lightning Network. In any case, the Lightning Network is the same breakthrough in itself as Bitcoin. Micropayments at the future.”

Image Credits: Pixabay

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