Bitcoin’s [BTC] Lightning Network breaches the 700 BTC mark in terms of network capacity

Bitcoin’s Lightning Network rode the Twitter hype train all of February due to the involvement and participation of prominent people in the crypto-space, like Binance’s CZ and LTC’s Charlie Lee, among others.

The total capacity of the LN has increased to an all-time high of ~703 BTC, worth a huge $2.75 million. This all-time high comes from a total of 28,105 channels [at the time of writing].

The number of channels for the LN has seen a 35.2% increase within a span of a month, while the number of nodes on the LN has gone up by 15.32% and is currently at 6,400 nodes. The number of active nodes was 3,312, almost half the total number of nodes.

The number of active nodes for the LN has also seen an increase of 20.17% in the last 30 days. However, the number of new nodes added within a span of 24 hours has decreased by 7.32% and is currently at 37.

Additionally, a node on the LN for pizza delivery has been gaining a lot of traction and growing rapidly. About  150 people bought pizza using the Lightning Network nodes [called Lightning Network Pizza/LN.Pizza] and the number keeps growing without any sign of stopping. However, the facility to order pizza using LN is currently restricted to the United States alone.

The Lightning Network has also surged post a movement on Twitter, during which Twitter’s Jack Dorsey increased the word count limit to support the Lightning Network invoice. The Lightning Torch would be passed from one person to another by adding 10,000 sats [Satoshis] to it.

Binance’s CEO, Changpeng Zhao was among the people who received the torch, which was then passed on to Tron’s Justin Sun, continuing the Lightning Torch chain.

A Twitter user, @Ibelite posted,

“At 88, my grandmother is able to text, FaceTime and stream YouTube videos to a TV. She encouraged me to attend a Lightning Hackathon and she’s ready to take the lightning torch next! She can even be the oldest person to do so!!… @brian_armstrong @cz_binance @tylerwinklevoss @SatoshiLite check out who’s got the lightning torch 🙂 If my 88 year old grandma can do it, anyone can !”

The post Bitcoin’s [BTC] Lightning Network breaches the 700 BTC mark in terms of network capacity appeared first on AMBCrypto.