Bitcoin Lightning Network Reaches an All-Time High
The previous all-time highs of the Bitcoin Lightning Network have been surpassed by it. Being a scaling solution based on layer two, the Lightning Network (LN) enhances the capacity of the blockchain to start the transfers in an additional effective way via the micropayment channels. At the moment, it contains up to 4,000 BTC in its possession.
Bitcoin Lightning Network Reaches Its ATH
Hence, the transfers carried out on the lightning network count to be more radically validated and are rapid and economic as compared with those processed on the Bitcoin mainnet (which is based on layer one). The advancement that has taken place on the Lightning Network is witnessed during some shaky grounds of Bitcoin’s price, signaling that even in times of turmoil – when a decline is undergone by the network – the adoption maintains its pace.
The psychological price of up to $20K has been the focal point for the prominent crypto token with a loss of nearly 70% within its value from $69,000 (the all-time high thereof) which was witnessed in 2021’s November. Stringent macroeconomic aspects such as enhanced interest rates did not provide an advantage to Bitcoin at a time when the whole industry is confronting a mounting level of inflation.
However, the adoption of the Bitcoin Lightning Network is surging to new highs as it allures investors by offering fees that are nearly zero. The well-known investment bank called Morgan Stanley disclosed that the Lightning Network would have additional use cases at the time of initiating small payments instead of a debit card. Thus, the narrative of Bitcoin is enhanced by it in terms of being a payment medium.
Recent Update of the Lightning Network’s Node Software
Formerly, Arcane Research conducted a report in which it admitted that the uninterrupted micropayment architecture that the Lightning Network had provided was capable of revamping the content providers’ business models in gaming, video, and audio, along with the rest of them. A few days back, the Lightning Network Daemon’s (lnd) beta version was released on the behalf of the Bitcoin (BTC) Lightning Network developer named “Lightning Labs.”
The “lnd” is the LN node’s comprehensive execution with more support to the exclusive protocol upgrades taking into account Musig2 and Taproot, among the rest of the improvements. lnd counts to be a software element responsible for tackling the LN’s diverse
