Satoshi Labs has reportedly made a record by routing one Bitcoin in Lightning Transactions in a day. This got the crypto community talking on the slow adoption of Lightning Network in comparison to its growth.
Setting a New Milestone
Lightning Network is already making a lot of growth and now it has made another record. Pavol Rusnak, CTO of Satoshi Labs took to Twitter to share this achievement of becoming the first node in Lightning Network history to route 1 BTC in a day.
“It seems that our Satoshi Labs node is the first Lightning Network node in history that routed 1 BTC (100,000,000 satoshis) in Lightning transactions per single day!”
According to the data provided by 1ML, in the past 30 days, Lightning Network has seen the network capacity rise 11 percent to 577 BTC. The number of nodes is gone above 5,700 while the number of channels has seen a rise of 35 percent to 22,300.
As we reported last week, Lightning Network has a lot of developments coming in this year and with the rate, the current growth is happening in the network, the capacity could be expected to rise to a billion in next year.
This got the crypto community elated and started as one stated on Reddit, “Lightning kicks ass. So why isn’t the rest of the world quickly adopting it? Does it depend on marketing?”
Another Redditor had this to say in part, “I keep running into people who have a warped and incorrect preconception about how lightning functions, and have strong criticisms founded on those invalid assumptions.”
Most of the enthusiasts agree with there being lack of information among the masses as yet another Redditor tried to explain,
“There is a strong perception that LN has killed bitcoins ability to onboard the 6 billion poorest in the world for free. Because it costs money to open and close channels. However, it’s a misunderstanding due to lack of information. In fact bitcoin * is * for poor people, and LN proponents are building for that. (…) In my opinion, coders aren’t great communicators. They write code. They don’t do marketing and education, or PR.”
But not everyone agrees with this narrative as this Reddit user said,
“I strongly disagree with the narrative that the technical community isn’t good at communicating and that this is the problem. The communication is public and in plain English.”
For others, “the primary issue (IMO) is that a leaderless and decentralized community has no unified or coherent messaging or marketing.”
What are your views on the growth Lightning Network is currently seeing and its adoption?
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.