{"id":25413,"date":"2024-01-04T12:42:03","date_gmt":"2024-01-04T12:42:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoins-transaction-surge-linked-to-lightning-network-growth\/"},"modified":"2024-01-04T12:42:03","modified_gmt":"2024-01-04T12:42:03","slug":"bitcoins-transaction-surge-linked-to-lightning-network-growth","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoins-transaction-surge-linked-to-lightning-network-growth\/","title":{"rendered":"Bitcoin’s Transaction Surge Linked to Lightning Network Growth"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
\n<\/p>\n

\n

The increase in Bitcoin transactions has been explained by recent market study conducted by Kaminari, which partially attributes it to the growing ecology of the Lightning Network. 40 million transactions were made using Bitcoin in Q3 2023 alone, indicating a sharp increase in the platform\u2019s use as a transactional layer.<\/p>\n

According to the report, Bitcoin\u2019s transaction volume has increased as a result of cryptocurrency exchanges and platforms integrating the Lightning Network. In October 2021, there were 94 firms in the Lightning Network ecosystem; by October 2021, there were 179 enterprises in 28 categories. Significant cryptocurrency exchanges including Bitstamp, Okx, and Binance have just joined the Lightning Network, which has accelerated its uptake.<\/p>\n

Centralized Exchanges\u2019 Impact and Integration Challenges<\/strong><\/h2>\n

The study finds that just little more than 6% of centralized cryptocurrency exchanges have integrated the layer 2 protocol, despite the exchanges\u2019 ability to spur adoption of Lightning Networks. Just 14 of the 224 operational centralized exchanges are linked to the Lightning Network for the surge in Bitcoin transactions<\/a>, suggesting a significant adoption gap.<\/p>\n

\u201cThere are currently 224 active centralized crypto exchanges, 14 of which are connected to the Lightning Network \u2013 in other words, only 6% of crypto exchanges currently use the Lightning Network to conduct transactions with Bitcoin,\u201d<\/em> the Kaminari report highlighted.<\/p>\n

Crypto wallets are identified in the report as another important factor contributing to the Lightning Network\u2019s development. But most cryptocurrency wallets\u2014custodial and non-custodial\u2014haven\u2019t included the Lightning Network yet. According to the research, just two of the top ten most popular wallets\u2014Exodus and Bitpay\u2014have adopted Layer 2.<\/p>\n

\n
\n
\n
\n
\n
175% Extra + $75 Risk Free Bet<\/strong>!<\/strong> <\/p>\n

New players only. 17% on 1st Deposit + $75 Risk Free Bet<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The study looks ahead, speculating on how future protocols like Taproot Assets and RGB would affect the Lightning Network. It is anticipated that these technologies will make it possible to create stablecoins that function with the Lightning Network. According to the article, there may be a significant shift in everyday transactions\u2014possibly worth billions of dollars\u2014when USDT transactions move from Tron and Ethereum to the Lightning Network.<\/p>\n<\/p><\/div>\n

Source link <\/a>
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"

(Originally posted on : Crypto News – iGaming.org ) The increase in Bitcoin transactions has been explained by recent market study conducted by Kaminari, which partially attributes it to the growing ecology of the Lightning Network. 40 million transactions were made using Bitcoin in Q3 2023 alone, indicating a sharp increase in the platform\u2019s use […]<\/p>\n","protected":false},"author":34,"featured_media":25414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25413"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25413"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25414"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}