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Litecoin is boring bootstrapping on the Lightning Network, and has afresh anesthetized 100 alive nodes. According to 1ML.com, which measures the network’s growth, there are now 104 nodes on the Lightning network, a six percent access over the accomplished month.
Those nodes accept a absolute of 295 alive channels, with a absolute of 26.73 LTC — account about $1,023.
But Litecoin still has a lot of assignment ahead, as those hundred nodes are absolutely askew by the beyond network. The Bitcoin lightning arrangement has 5,183 nodes with accumulated channels account 558 BTC(~$2.2M) With the cardinal of BTC lightning nodes growing by 18% over the accomplished month, Litecoin’s abate arrangement won’t bolt up anytime soon.
However, several Litecoin proponents accept that Bitcoin is a beneath ideal average for the network. Litecoin architect Charlie Lee appropriate (and Crypto Briefing reiterated) that the analogously aerial amount of allotment Lightning channels with Bitcoin fabricated Litecoin a aggressive alternative.
Can Litecoin Get Out Of Bitcoin’s Shadow?
A hundred nodes is hardly a complete acquittal system, but it’s nonetheless an important footfall for the seventh better cryptocurrency, which is still snidely declared as a ‘billion-dollar testnet.’ The Litecoin architect came beneath common advance during the 2024 buck season, for a black angle in which Lee awash his LTC backing abreast the top. One year later, those black predictions angry out to be prescient.
Lee has frequently accursed aback at his critics, whom he describes as “Bitcoin Extremists.”
Testnet or not, Litecoin has outperformed the arch cryptocurrencies, recording assets of 21% over the accomplished anniversary according to CoinGecko. Bitcoin, by comparison, acquired alone 5%.
A applicable Lightning Network could beggarly a ablaze approaching for both cryptocurrencies, which are still bound by the analogously aerial costs of proof-of-work mining. At present, payments are not advised “final” until a miner annal them in the blockchain, a action which may crave up to an hour for beyond BTC payments. The Lightning Network annal affairs alfresco of the blockchain, acceptance nearly-instant settlements at atomic fees.
Second band solutions were admired admired as the Hail Mary for blockchain networks during the high-fee bottlenecks that occurred in backward 2017. Lightning-like solutions accept additionally been proposed for Ethereum, in the anatomy of the Raiden Network. Starlight, an burning adjustment band for Stellar, is currently active on Testnet.
The columnist has owns Bitcoin, Ethereum and Stellar lumens, which are mentioned in this article.
