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Bitcoin => Press => Topic started by: NibiruHybrid on August 26, 2019, 05:22:49 PM



Title: [2019-08-26] Bitcoin Lightning Network Statistics Show Signs of Stalling
Post by: NibiruHybrid on August 26, 2019, 05:22:49 PM

Bitcoin Lightning Network Statistics Show Signs of Stalling


The Bitcoin Lightning network has shown signs of lost momentum across several statistical metrics.

According to several key metrics pulled from BitcoinVisuals, the Lightning network, Bitcoin’s main off-chain transaction solution touted as a potential remedy to scaling issues, appears to have lost momentum in growth and maturity. It terms of number of active nodes the network experienced consistent growth in the first part of this year, growing from 2,329 at the beginning of the year to 4,120 at the beginning April, approximately a 77% growth over those three months. As of August 19th, the node count stands at 4,744, a much more modest 15% growth over a 50% longer timeframe.



Read more - https://dashnews.org/bitcoin-lightning-network-statistics-show-signs-of-stalling/


Title: Re: [2019-08-26] Bitcoin Lightning Network Statistics Show Signs of Stalling
Post by: Carlton Banks on August 26, 2019, 06:17:25 PM
the Lightning network, Bitcoin’s main off-chain transaction solution touted as a potential remedy to scaling issues, appears to have lost momentum in growth

correct, it's actually lost some liquidity since it's peak


and maturity

incorrect

the software development is the indicator of the network's maturity, and both updated clients and plans for new improvements are continuing


  • Trampoline routing tackles routing scaling; nodes would keep a local routing map, instead of maintaining a map of the whole network, then they delegate routing decisions to other nodes with knowledge of their own locality
  • Path splicing/permute-route will handle route failures quicker by continuing from the last known good point on a failed route, then calculating multiple possible routes from there (currently, entire route is re-computed on failure)
  • Eltoo makes it impossible to steal funds with old channel states, effectively removing the need for penalties and watchtowers (un-cooperative channel partners can close an Eltoo channel, not use old states)
  • AMP improves liquidity by allowing a node to use multiple channel balances to satisfy a single relayed payment
  • Channel Factories allow users to collaboratively rebalance channels, without having to pay routing fees
  • Statechains are not a Lightning specific tech, but could improve Lightning by enabling a 1 step setup for people who own zero BTC

There's SO MUCH stuff happening with Lightning, I'm sure I must have forgotten at least 3 or 4 other improvements.



So, hey, "journalists", any chance of you, I dunno, doing your job? Instead of other people doing it for you?


Title: Re: [2019-08-26] Bitcoin Lightning Network Statistics Show Signs of Stalling
Post by: 1Referee on August 26, 2019, 08:34:38 PM
correct, it's actually lost some liquidity since it's peak

A lot of that liquidity that might have been still there if the price didn't significantly shoot up. It's perfectly normal that it goes down with how merchants accepting Lightning payments suddenly have 3x'd their revenue and for that reason have to cash out to reap the fruits of the bull run.

Then we have the liquidity that was added during the 'hype' where Lightning was in the news almost every single day. Now Lightning isn't making new headlines anymore that liquidity has been withdrawn.

844BTC is currently locked into the network, which is plenty enough liquidity for people to transact with at current stage. I would even tend to say that it is too much considering how early it still is, but you can't possibly have too much liquidity so it's all good. :)


Title: Re: [2019-08-26] Bitcoin Lightning Network Statistics Show Signs of Stalling
Post by: Carlton Banks on August 26, 2019, 08:50:54 PM
A lot of that liquidity that might have been still there if the price didn't significantly shoot up. It's perfectly normal that it goes down with how merchants accepting Lightning payments suddenly have 3x'd their revenue and for that reason have to cash out to reap the fruits of the bull run.

Then we have the liquidity that was added during the 'hype' where Lightning was in the news almost every single day. Now Lightning isn't making new headlines anymore that liquidity has been withdrawn.

I'm biased, but the people writing comments in this news section often have better information and better analysis than the so-called reporting they're commenting on. and it's ctually like that many places on the internet, good information is found in the comments not written by the ostensible professionals. it's like that phenomenon where teachers are usually useless at practical applications of the subject they teach


Title: Re: [2019-08-26] Bitcoin Lightning Network Statistics Show Signs of Stalling
Post by: BitHodler on August 26, 2019, 11:34:09 PM
As stated above, the price development this year has been quite an important factor as to why liquidity is being taken out. It has also lead to a shift of focus of the general public from development to blind speculation.

If we however look at the available liquidity in dollar terms, it has held quite well throughout the last couple of months. Higher price means you need less satoshis to reach a certain dollar amount. Definitely not the end of the world. :)