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Node Launched By Bitstamp For BTC’s Lightning Network

 
Node Launched By Bitstamp For BTC’s Lightning Network
Exchanges / Breaking News

It seems that the Luxembourg based cryptocurrency exchange, Bitstamp doesn’t want to be just known as an exchange for digital assets but also an active contributor to the development of the underlying technology of these assets. 

Earlier this week on July 8th, the exchange announced the launch of its lightning node for the second layer Bitcoin scaling solution, the Lightning Network

Posting on Twitter this week, Bitstamp said:

“ELECTRIFIED: We believe the Lightning Network has the potential to unlock a whole new level of utility for Bitcoin. We’ve set up our own #LN node to help grow the network and encourage other companies to get on board.”

Writing in a more detailed post in regards to the Lightning Node, Bitstamp said that it has been supporting the leading cryptocurrency since the ‘early days’ and it seems that it was only natural for the exchange would offer a lightning network node to its users in support of the leading blockchain protocol.

One section of the post states:

“By running our own Lightning Network node, we want to help the network grow and encourage other companies to start working with this amazing technology as well […]We believe that there are use cases for Lightning in almost any industry. Let’s start discovering them.”

If we take a look at the lightning networks data website 1ML, the number of nodes has increased over the last months by 3.52 percent at the time of writing. 

As reported by Crypto Economy:

“The network boosts about 34,456 channels but only around 12% of these channels were active as of press time. That is approximately 4,434 active node channels which is a negligible 1.77% increase in the last 30 days according to 1ML. the network capacity has more or less stayed put over the last month at 942.71 BTC which is currently valued at close to $12 million.”

On top of this, other exchanges have allowed support for the unusual Bitcoin project. This includes one of the biggest leading US-based exchanges, Coinbase all thanks to the crypto payments Bitrefill.

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