Network capacity the Bitcoin Network Lightning fell 13%

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According to 1ML, capacity Bitcoin Lightning Network, the solutions for scaling the second tier of cryptocurrencies, recently dropped by 13%. Many are concerned that the decline will affect its liquidity and long-term potential, according to CryptoGlobe.

According to the data, Bitcoin Network Lightning fell with 1100 BTC to BTC 958,9 for the last 30 days. While network bandwidth has reached its peak in March of this year.

Seeing the sudden drop of the scaling solutions the flagship cryptocurrency and noted a corresponding decrease in its liquidity, users began to report the problem to Twitter.

LNBig acknowledged a certain relation to the capacity reduction Bitcoin Lightning

LNBig, one of the largest operators in the GBR network, said on Twitter that they might have some bearing on the decline because it made the closing of the non-public channels, which were initiated by them. But the error in the script forced them to close a much larger volume than expected, which led to a drop in liquidity.

I closed not-used public channels initiated from my side (age >= 78 days). But I intended to close a maximum up to 1.2 BTC and due to error in the script, all these channels were closed — it’s -67 BTC capacity. So capacity of LN will drop 1015-67 948 BTC near hours…

— lnbig_com (@lnbig_com) June 5, 2019

Not so long ago it was reported that popular Japanese bar Awabar Fukouka conducted an experiment in which users were able to buy drinks, and pay for them using Bitcoin network Lightning. By this action they tried to nudge those companies that did not want to use Bitcoin as a means of payment, to the adoption of cryptocurrency. To demonstrate how quick and cheap payments, the proposed network Lightning can encourage the adoption of cryptocurrencies.

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Tags: Bitcoin Lightning

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