Lightning Network Buy Token

www.lightning.network

Total Value Locked

$12.0M

USD Locked

$12.0M

BTC Supply Locked

1,086.51

Blockchain

Bitcoin

Change

1.74%

What is lightning-network?

Lightning Network is a 2nd-layer protocol built on the Bitcoin’s blockchain with the goal of improving speed, scalability and therefore transaction efficiency. This system was created to allow instant payments between network participants, with exceptionally low fees compared to the traditional Bitcoin payment system. 

It is sufficient to consider that currently, the fee on a transaction made through Lightning Network is $0.0000000049933; this value accounts for the deposit, the cryptocurrency transaction and the creation of an off-chain ledger, on which operations are recorded and signed. This is such an important revolution that it opens the door to applications that were previously unthinkable; we will talk about this later in the article.

The main problem was to make the “old” decentralized payment system more efficient and competitive than the current services, such as VISA. In fact, the dilemma that the Lightning Network developers had posed was that, in addition to the creation time of a block of about 10 minutes and its limited capacity, Bitcoin was only able to perform 7 TPS (Transactions Per Second). No comparison with VISA’s higher scalability, which can reach up to 65,000 TPS

As can be seen, the efficiency and scalability gap between the two systems was too high; thanks to the development of Lightning Network, the network can now process millions of TPS, with a maximum capacity of billions of TPS.  

When two users want to exchange value in Bitcoin via the LN, they must first open a payment channel and send a certain amount of BTC to it. Thereafter, they will be able to make all the transactions they want within the previously opened channel, without exceeding the deposited amount. 

How to use lightning-network?

Through the opening of these channels, it is possible to operate with a class of payments called HTLC (Hashed TimeLock Contracts) that use functions such as Timelocks. A Timelock is a type of smart contract that limits the spending of a certain amount of BTC until a future date or specific block height. 

As soon as the channel is closed, the most recent status of the off-chain ledger is uploaded to the Bitcoin Blockchain, updating the balance of all participants. 

Its function also improves interoperability between different blockchains that support the same crypto assets, allowing transactions between different cryptocurrencies on separate blockchains, thanks to a function called "Atomic Swap".

Thanks to LN it will now be possible to conceive new types of applications in ways previously unthought out; for example, micro-payments become possible thanks to the high reduction in transaction fees, compared to traditional payment methods such as VISA and MasterCard. This will allow remuneration for the performance of an employee by the minute, or even by the second.

Lightning Network Historical Stats

  • Date
  • TVL (USD)
  • TVL Change
  • Total BTC Locked
  • BTC Locked 1d
  • 18 Sep 2020
  • TVL USD $11,869,134
  • TVL Change $87,517.00
  • Total ETH Locked 1,085 BTC
  • ETH Locked 1d 10.69 BTC
  • 17 Sep 2020
  • TVL USD $11,781,617
  • TVL Change $167,355.00
  • Total ETH Locked 1,075 BTC
  • ETH Locked 1d 0.69 BTC
  • 16 Sep 2020
  • TVL USD $11,614,262
  • TVL Change $129,683.00
  • Total ETH Locked 1,074 BTC
  • ETH Locked 1d 1.65 BTC
  • 15 Sep 2020
  • TVL USD $11,484,579
  • TVL Change $317,045.00
  • Total ETH Locked 1,072 BTC
  • ETH Locked 1d 0.59 BTC
  • 14 Sep 2020
  • TVL USD $11,167,534
  • TVL Change $-76,549.00
  • Total ETH Locked 1,072 BTC
  • ETH Locked 1d 2.38 BTC
  • 13 Sep 2020
  • TVL USD $11,244,083
  • TVL Change $135,101.00
  • Total ETH Locked 1,069 BTC
  • ETH Locked 1d 7.69 BTC
  • 12 Sep 2020
  • TVL USD $11,108,982
  • TVL Change $39,898.00
  • Total ETH Locked 1,062 BTC
  • ETH Locked 1d 0.56 BTC
  • 11 Sep 2020
  • TVL USD $11,069,084
  • TVL Change $135,150.00
  • Total ETH Locked 1,061 BTC
  • ETH Locked 1d 0.63 BTC
  • 10 Sep 2020
  • TVL USD $10,933,934
  • TVL Change $73,681.00
  • Total ETH Locked 1,060 BTC
  • ETH Locked 1d -7.43 BTC
  • 09 Sep 2020
  • TVL USD $10,860,253
  • TVL Change $-198,919.00
  • Total ETH Locked 1,068 BTC
  • ETH Locked 1d 0.26 BTC
  • 08 Sep 2020
  • TVL USD $11,059,172
  • TVL Change $118,449.00
  • Total ETH Locked 1,068 BTC
  • ETH Locked 1d 9.55 BTC
  • 07 Sep 2020
  • TVL USD $10,940,723
  • TVL Change $97,136.00
  • Total ETH Locked 1,058 BTC
  • ETH Locked 1d 0.43 BTC
  • 06 Sep 2020
  • TVL USD $10,843,587
  • TVL Change $-306,736.00
  • Total ETH Locked 1,058 BTC
  • ETH Locked 1d -0.67 BTC
  • 05 Sep 2020
  • TVL USD $11,150,323
  • TVL Change $260,933.00
  • Total ETH Locked 1,058 BTC
  • ETH Locked 1d 2.87 BTC
  • 04 Sep 2020
  • TVL USD $10,889,390
  • TVL Change $-1,171,274.00
  • Total ETH Locked 1,055 BTC
  • ETH Locked 1d 0.00 BTC
  • 03 Sep 2020
  • TVL USD $12,060,664
  • TVL Change $-477,871.00
  • Total ETH Locked 1,055 BTC
  • ETH Locked 1d -1.14 BTC
  • 02 Sep 2020
  • TVL USD $12,538,535
  • TVL Change $274,488.00
  • Total ETH Locked 1,057 BTC
  • ETH Locked 1d 4.44 BTC
  • 01 Sep 2020
  • TVL USD $12,264,047
  • TVL Change $-32,277.00
  • Total ETH Locked 1,052 BTC
  • ETH Locked 1d 1.68 BTC
  • 31 Aug 2020
  • TVL USD $12,296,324
  • TVL Change $199,306.00
  • Total ETH Locked 1,050 BTC
  • ETH Locked 1d 3.08 BTC
  • 30 Aug 2020
  • TVL USD $12,097,018
  • TVL Change $16,873.00
  • Total ETH Locked 1,047 BTC
  • ETH Locked 1d 4.12 BTC