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Lightning Network capacity approaches $3 million as new channels see 40% growth in a month

With the recent rally in the Bitcoin market, the Lightning Network (LN) has seen capacity grow to over 750 BTC ($2.9 million), with the number of payment channels increasing by more than 8,000 to 32,000 in the last 30 days.

Apart from just looking at the impressive core network statistics at 1ml.com, we can see real growth for LN-based applications like the Jack Dorsey-endorsed Tippin.me service.

3 months ago, @tippin_me went live. Since then, there have been: ⚡️ 15,000 tips sent⚡️ 14,000 sign ups⚡️ 4,000 browser extensions installed⚡️ 559 channels connected to it⚡️ $30,000+ of potential transaction capacity added to those channels pic.twitter.com/EwuKnbhQME — Kevin Rooke (@kerooke) March 4, 2019

In a recent tweet, Kevin Rooke revealed that the Lightning-based tipping application had seen 14,000 user sign-ups and 15,000 tips sent since the launch of the project just three months ago.

The new feature to use a browser extension to send tips directly in Twitter recently received a glowing review from Jack Dorsey, the CEO of the social media behemoth.

Growth in Lightning-enabled wallets

Another key part of the LN ecosystem to have seen growth is the user-facing wallet infrastructure, most notably the popular BlueWallet mobile application.

According to a recent blog post, the Bitcoin and LN wallet reported over 12,000 downloads and 16,000 active users for the month of February. Based on previous performance, these figures indicate a +127% increase in users and downloads from the first month of 2019.

The team also said that they saw “people hacking our lndhub solution and running their own nodes” over the last month.

One of the wallet’s co-founders, Nuno Coelho, went on to tell users that if they have some free time, they can set up their own node and connect it to the wallet to “have the best of both worlds in terms of sovereignty and mobile experience”.

Lightning apps (Lapps)

The team also disclosed tha...

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