Storm’s A-Comin’: Lightning Network Hits Capacity of 100 BTC
Lightning Network, Bitcoin’s proposed second-layer scaling solution, just saw its capacity hit the 100 bitcoin milestone. Progress on the off-chain payment protocol has picked up steam in 2018, with the network’s capacity having been as low as three bitcoin as recently as six months ago.
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From a Few Channels to 100 BTC
As of September 3rd, 2018, the Lightning Network has seen its overall node capacity cross the 100 bitcoin threshold.
The milestone comes after LN first hit the 50 BTC capacity mark back in July of this year. With its capacity having doubled in a month, and with it being in the single digits only half a year ago, the payment protocol’s growth is accelerating.
— Lightning Network statistics ⚡ (@LNstats) September 4, 2018
Also of note is the network seeing its open channels crossing over 12,000. That count was 7,000 roughly one month prior.
Likewise, LN’s node count now stands at just shy of 3,350 — a tripling since March. Across the board, then, 2018 has been the proposed second-layer scaling solution’s biggest year yet, even with several months still to go and much more work to be done going forward.
Looks Like Running an LN Node Is About to Get Considerably Easier
Casa, where renowned bitcoiner Jameson Lopp currently serves as engineer, has just announced the Casa Lightning Node.
Announcing a new product (and team!) we've been building in secret – the Casa Lightning Node!https://t.co/kRU5ppPJO6
— Casa (@CasaHODL) September 4, 2018
The small device is the “easiest way to get started with Lightning and a Bitcoin full node,” per Casa, as it’s “[p]lug and play, pre-synced, and easy to setup and use.”
The company has said the devices will be sold in a limited run, with a batch of only 100 being put up for sale for now. (Update 9/4/18 @ 2:30PM EDT: the first round has already sold out, but Casa has promptly launched a second round.)
Lopp remarked in July that he bet LN’s capacity would be in the “thousands of BTC by end of year.” Casa’s new Casa Lightning Node is a definite stab in that direction.
In response to the excitement, Litecoin’s Charlie Lee likewise commented that future routers may simply come with Lightning Network functionality built-in.
In the future, network routers will come with Lightning Network built in. It will route your data AND payments. It can also earn some money for you from LN transaction fees and maybe even atomic swap fees.@CasaHODL's product is a first step towards that.
But, when Litecoin? 😀 https://t.co/DYogUBlL6z
— Charlie Lee [LTC⚡] (@SatoshiLite) September 4, 2018
What’s your take? Where do you think the Lightning Network will be at this point next year? Sound off in the comments below.
Images via Twitter, Pixabay