The Lightning Network is lauded by its proponents to be the ultimate fix to any scaling problem Bitcoin will encounter. It is an added layer to the Bitcoin protocol. The added layer is intended to create a faster channel to make payments.
The scaling issue is seen as Bitcoin’s biggest hurdle, but the Lightning Network provide instant payment solutions that will allow people to use Bitcoin to buy something as simple as a cup of coffee.
Twitter user @kerook Noted the growth the Lightning Network has been experiencing.
3 months ago, @tippin_me went live.
Since then, there have been:
⚡️ 15,000 tips sent
⚡️ 14,000 sign ups
⚡️ 4,000 browser extensions installed
⚡️ 559 channels connected to it
⚡️ $30,000+ of potential transaction capacity added to those channels pic.twitter.com/EwuKnbhQME
— Kevin Rooke (@kerooke) March 4, 2019
Perhaps one of the most important endorsements the Lightning Network has received came from Twitter and Square CEO Jack Dorsey. Dorsey has already stated his belief in Bitcoin as the native currency of the internet. His statements excite many in the space and now his latest comments on Tippin.me have caused even more growth.
As the Lightning Network expands its reach, using cryptocurrency will only get easier. Mass adoption will certainly be aided by the ability to use Bitcoin in everyday settings. Anthony Pompliano recently hammered home the fact that traditional credit card companies could lose out to Lightning Network and all of the advantages it offers.
Who knows someone on the leadership team there?
The Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide. ???
— Pomp ? (@APompliano) March 2, 2019
If everyone just remains content to “HODL”, Bitcoin and other cryptocurrencies will never become the norm. Ultimately, great use cases and solving current problems is what will cause adoption. If people realize that they could save money and time by using tools such as the Lightning Network, then and only then, will they decide to use it.