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Bitcoin Lightning Network Capacity Hits A New All-Time High, Rising 650% Since Last Year

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by COINS NEWS 98 Views

Here's how I think of it for my purposes: If I were to spend, say, $200/month on things like coffee, burgers, and chewing gum, I might end up needing to spend an additional $1-200 in network fees on the BTC blockchain. But if I transfer $200 worth of BTC to a Lightning wallet, I can use that wallet for the transactions for just a single on-chain transaction. Or as a vendor, a $5-10 transaction fee might put off a lot of my potential customers--unless they're using a Lightning wallet, in which case there's no transaction fee to speak of. And I can just pay the network fee once at the end of each week to "cash out" what I need for overhead.

There are other ways Lightning works, but this is the major use case I relate to.


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