Lightning Network Can Reach Hundreds of Millions of Users -Arcane

It is thought that the El Salvador government’s integrating the Lightning Network and putting bitcoin into circulation could bring tens of millions of new users to the Lightning Network in the long run.

In the research report prepared by Arcane Research for the Lightning Network, today adequate banking infrastructure in countries that do not have and are heavily dependent on the US dollar 850 million people He was said to be alive.

The countries that make up 10% of this population are El Salvador. that you can follow Researchers stated that the Lightning Network can reach 50 million new users in this way, and that these users annually. 17 billion dollars It estimates that it can generate trading volume.

After El Salvador recognized bitcoin as a legal currency, Panama “don’t stay behind” saying that you should Panamanian politician Gabriel Silva said earlier last month that bitcoin in payment transactions introduced a bill that would allow it to be used.

Lightning Network, which processes Bitcoin transactions outside of the blockchain, in the micropayment channels it hosts; Bitcoin per second seven-process capacity. per second though millions of transactions It is a decentralized network.

With the announcement of Lightning integration by both Paxful and Twitter in September, the area of ​​use of the Lightning Network began to expand, apart from El Salvador.

The capacity of the Lightning Network, with more than 660,000 transactions recorded for September, has increased from January 1 to the present. From 1,058 bitcoins to over 3,000 bitcoins output.

“Why not listen to songs on Spotify by paying per minute, or watch movies on Netflix with pay per second? Why give your credit card information to a content service provider when you can pay directly from your Lightning wallet without having to share any information about yourself?” said the Arcane Research team, that the Lightning Network “It can radically change payment and money transfer transactions” stated.

Lightning Network’s paying for audio or video content and gaming by 2030 by 700 million users While it is stated that it can start to be used, the annual number of transactions of the network up to 364 trillion declared to be available.

Elizabeth Stark, CEO of Lightning Labs, which developed the Lightning Network’s software, “In the not-too-distant future; If internet users don’t know how to use TCP/IP, other users won’t realize they are using bitcoin and Lightning. From cross-border payments to payment transactions in messaging apps; From gaming to supporting artists and creators, Bitcoin transactions on the internet It could become the underlying protocol.” said.


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