Bitcoin (BTC) Lightning Network Capacity Tops 2,900 BTC, Twitter Can Boost Further
While Bitcoin (BTC) has remained volatile for most of September 2021, the developments taking place with the Bitcoin Lightning network are going strong.
As we know, the Bitcoin Lightning Network is a “layer 2” payments protocol designed atop the Bitcoin blockchain network. There’s an exponential growth in the Bitcoin Lightning Network capacity which has now surged past 2,9000 BTC, as per data on Glassnode.
This year of 2021, in particular, has been very strong considering the Bitcoin Lightning Network growth. Since the beginning of 2021, the Lightning Network capacity has surged by 160%, while the number of active nodes and the number of channels have grown nearly by 100%.
As of press time, the number of active nodes on the BTC Lightning Network is 15,697 while the number of active channels has shot past 73,000. On the other hand, some big companies like Twitter are looking forward to taking benefit of these developments.
Twitter Can Boost Lightning Network Use
Last week, Twitter announced the Bitcoin tipping feature making it one of the biggest BTC adoption news by a tech giant. Interestingly, Twitter will be leveraging the Bitcoin Lightning Network to facilitate payments and BTC tipping.
To facilitate its Bitcoin tipping feature, Twitter has partnered with payments application Strike built atop the Bitcoin Lightning Network. The Twitter announcement read:
“People can now seamlessly tip with Bitcoin using Strike – a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin.
People in the eligible markets will have to sign up for a Strike account and add their Strike username to receive Bitcoin tips over the Lightning Network. You can use any Bitcoin Lightning wallet to send tips to someone’s Strike account”.
As Bitcoin adoption continues to increase, the Bitcoin Lightning network will play a crucial role in increasing the Bitcoin utility. The participation of such big players will further boost the adoption curve.
- SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable
- Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up
- Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act
- Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says
- Fed’s Hammack Backs Restrictive Policy Over Rate Cuts Amid Inflation Concerns
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
