Due to some debate about the decimal point ".", I chose to remove it.
So that it would be clearer that it is thousands according to the graphical increment in the image that I have included.
That said, the growth of the LN is massive and shows promise that it can take huge load off on chain transactions in the future to keep fees at a reasonable amount.
Lightning network transaction fees are cheaper and transactions are also faster.
There are many adoptions made with Bitcoin's Lightning network for several payments for credit purchases, vouchers, and other payments.
Very impresive the growth of the Lightning Network, i would like to participate on it, but in my city there is no bussines that accept bitcoin, even less LN.
If regulation becomes an obstacle it is already a rule that cannot be changed.
My country also does not allow Bitcoin as a payment transaction, but I can buy Bitcoin in Rupiah currency with a
ATM Bitcoin Mainan made by local people in my country.
You can visit it at this link.
https://btcln.app/and I also discussed about this
ATM Bitcoin Mainanhttps://bitcointalksearch.org/topic/share-lightning-atm-mainan-beli-bitcoin-eceran-mulai-dari-rp1500-5404778I think the reason why the usage is up is due to the higher fees and the fact that many exchanges finally added lightning network. Years ago almost no exchanged used it because fees went down and it wasn’t really needed at the time.
Yes, that's one of them, many exchanges have added Lightning Network Bitcoin, especially Binance, which makes transactions increase due to cheaper and more efficient fees.
List of Exchanges that Support Lightning Network.
https://github.com/theDavidCoen/LightningExchanges-snip-
There are also several play to earn games and apps that let you earn some sats and withdraw through Lightning. There is still many improvements needed for users to have a better experience but it is certainly promising to see a huge growth in activity.
Lightning Network is developed in various sectors, one of which is like a game that allows users to get Sats in every game.
Thanks to the Lightning network it can be done with fairly minimal transactions and this will be the future of Bitcoin layer 2 adoption.
There needs to be a lot more development for the Lightning Network.
In general it looks like there's a huge adoption toward lightning network because the total transaction increase really high.
But if we look at the total channels, it's not really increase as high as the total transactions. So it seems only small a group are use lightning network, which I think it's a centralized exchange and centralized wallet that integrated with lightning network, where the user only need to use it without need to open a new channel.
It is uneven, indeed after several large exchanges such as Binance began to support the Lightning network, there was a significant increase in transactions.
and Coinbase also plans to integrate the Lightning Network, after Brian Armstrong CEO of Coinbase said
"Lightning is great and something we'll integrate"https://twitter.com/brian_armstrong/status/1644794656570617856Is there supposed to be a correlation between LN's growth and the Bitcoin price growth? I don't know why Sam Wouters is searching for such correlation. LN is supposed to be growing in times of high transaction fees, when the BTC blockchain is congested. There was such time frame(due to the Bitcoin Ordinals, I guess). The Bitcoin price and the online searches about BTC has little to do with this.
5000 BTC being locked in the Lighting Network proves that there's no actual growth of LN. It's just a bunch of channels inside LN, that are transacting more often between each other.
I don't have an opinion on it, but Bitcoin Ordinal is indeed the cause of the surge in transactions that are getting denser, and because of that people are starting to use the Lightning Network so as not to get stuck on Bitcoin transactions with fees that are also quite expensive.
It also makes the big exchanges want to support the lightning network.