Bitcoin gets a massive Lightning Network boost

Good news are coming from crypto space, as Bitcoin adoption is about to take another step forward: the Lightning Network (first proposed in a 2015 white paper), is getting a boost, as CoinGate is adding all 4,000 of its merchants to the off-chain system!

Note: the Lightning Network creates a layer on top of the Bitcoin Blockchain, where transactions can be passed back and forth before being added to the underlying blockchain.

Thus, we can expect transactions to gain more (much more!) speed, while its costs to be significantly reduced.

One of the main questions so far is what will it mean for the Bitcoin price? (much of the price today depends on transaction fees picked up by miners). Though we’re quite confident that with increasion of Bitcoin adoption, the price will continue to rise.

Just 6 months ago, the network’s capacity was 3 Bitcoin low, and yesterday (04.09.2018) Bitcoin’s Lightning Network capacity reached 100 bitcoin, according to data from monitoring resource 1ML.

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