The Bitcoin Lightning Network (LN) has increased its overall transactional capacity from 1,100 to 3,679 Bitcoins (BTC) in 2022. Liquid, a Bitcoin-based platform, also boosted its transactional capacity from 3,000 to 3,500 Bitcoins over the same time period. As a result, Bitcoin LN has exceeded Liquid in terms of transactional capacity for the first time.
Lightning Network
The Bitcoin Lightning Network (LN), which debuted in March 2018, is a Bitcoin layer-two technology designed to enable quick and inexpensive Bitcoin transactions. It is the oldest and most popular Layer 2 scalability solution and allows users to create payment channels and process transactional data partially off-chain, reducing the load on the main network. The team from Blockstream claims that the Bitcoin Lightning Network net capacity has more than quadrupled in 2021.
C-lightening to Core Lightning
As per the information from Blockstream, c-lightning has changed its name to ‘Core Lightning’. C-lightening is the most popular community-driven Lightning Network implementation protocol.
1/ #LAYER2ROUNDUP: c-lightning undergoes a name refresh and is now #CoreLightning, #Bitcoin capacity on Lightning ⚡️ eclipses Liquid 🌊 for the first time, Liquid uses DynaFed, & @TheBitcoinConf hosts many layer-2 panels; lets recap👇🧐 pic.twitter.com/sgeCTFPARL
— Blockstream (@Blockstream) April 17, 2022
Blockstream is a blockchain tech company that creates a range of products for Bitcoin and other digital assets storage and transfer.
Lightning Labs announced the Taproot-powered Taro protocol
In another development, Lightning Labs announced the Taproot-powered Taro protocol, which is meant to enable quick and resource-efficient value transfer on top of BTC and Lightning Network.
Taro instruments will enable users to produce and trade a variety of assets, including stablecoins. BTC and Lightning USD transactions will be available in the initial versions. Multi-asset support will be implemented in future editions, according to the team.
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