Bitcoin’s “scaling solution” for fast payments, the Lightning Network, is becoming increasingly popular around the globe. According to a fresh research report (pdf) by Arcane Research, Lightning payments are growing fast, even more so than what can be measured by looking at “imperfect” public metrics.
Though Satoshi Nakamoto titled the now-famous whitepaper “A Peer-to-Peer Electronic Cash System”, clearly aiming at creating a digital equivalent of cash for everyday use at scale, Bitcoin’s decentralized and secure design, with a small block size and relatively long block time, does not have the transaction capacity to facilitate payments in the same way people use cash, whether physical or digital, in their everyday lives.
The Lightning Network is designed to be a solution to Bitcoin’s slow throughput without compromising the security of the Bitcoin (BTC) network. By using the Lightning Network, millions of people can send fractions of a bitcoin at instant speed, all a
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