Access to Bitcoin Lightning Payments Has Grown by 800% in 1 Year – Report

Usage of the Bitcoin Lightning Network is Growing Rapidly

Regarding the Bitcoin Lightning Network usage, the report highlights its popularity as a payment option is multiplying. Furthermore, the number of payments on the Bitcoin Lightning Network ‘has roughly doubled over the last year, while the value of the payments has increased by more than 400%, measured in US dollars.’

Additionally, the Lightning Network ‘will become more capacity efficient as infrastructure solutions develop, and public metrics will likely underestimate growth in the future.’

Hyperbitcoinization Will Not Be The Only Way for the Bitcoin Lightning Network to Flourish

Moreover, hyperbitcoinization will not be the only way for the Bitcoin Lightning Network to flourish. According to the team at Arcane Research, the facilitation of ‘seamless and low-cost conversion between fiat currencies and bitcoin’ by infrastructure providers of the Lightning Network will create ‘a superior payment rail even without people knowing or caring that they use bitcoin on the Lightning network.’

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