Coin Rivet's 'Single Lightning Network node routes record number of Satoshis in a day'
Single Lightning Network node routes record number of Satoshis in a day
A Lightning Network node hosted by Satoshi Labs successfully routed one Bitcoin worth of Lightning transactions in a 24-hour period
By Nawaz Sulemanji - January 28, 2019
The Lightning Network node run by Satoshi Labs has successfully routed 100 million Satoshis in a single day.
That amount of Satoshis equates to one whole Bitcoin in volume that was sent via a single hosted node by the company behind the Trezor hardware wallet.
One Bitcoin may not sound like a lot (around $3,500 at the time of writing), but when this record is viewed alongside the exponential growth in network nodes over the past 12 months (from 6 to 5,700), we start to understand how this payment network is ramping up in terms of depth of capacity.
The record number of Satoshis was sent through the various channels the node was connected to in the network. From the stats available at 1ml.com, we can see that across the 5,700 nodes currently online, they have over 22,000 channels and a network capacity of over $2 million.
Coin Rivet also covered a story a few weeks ago that showed how easily you can make one Satoshi payments across the Lightning Network. In the example covered, the payment was made through the Lightning roulette game.
Lightning payments growing at Bitrefill
In a recent appearance on The Bitcoin News Show, Bitrefill’s John Carvalho revealed that the Lightning Network now accounts for more payments to Bitrefill than any of the altcoins they accept today, highlighting the exponential growth of the network.
Coin Rivet also recently reported on other services that Bitrefill has been working on related to the Lightning Network. The launch of the Thor service will provide extra utility to users by enabling them to open better payment channels with Bitrefill’s well-connected Lightning nodes.
Three-year anniversary of the Lightning Network white paper
This month marks the three-year anniversary of the Lightning Network white paper that was initially proposed as a “scalable, off-chain payment network” by Joseph Poon and Thaddeus Dryja. You could make the case that this vision has already been realised with the capacity and infrastructure already deployed on the network today – just imagine what the network may be able to deliver in another three years.