El Salvador, cash app assists blessing! The total volume of lightning network transactions increased by 410% annually

With the increasing number of cryptocurrency users, the utilization rate of bitcoin “lightning network” has also experienced explosive growth, and the total transaction volume has increased by 410% annually. Lightning network is a layer 2 protocol running on the bitcoin blockchain. It is popular for providing low-cost, high-speed small transactions.
The report of arcane research, a blockchain data research company, pointed out that in the past year, the number of payment transactions on the lightning network has doubled, and the total transaction volume has increased by 410%.
El Salvador, cash app assists blessing! The total volume of lightning network transactions increased by 410% annually
Arcane research explained that in September last year, El Salvador officially adopted bitcoin as legal tender. Because the official electronic wallet chivo supports lightning network payment, and the American payment application cash app also integrated lightning network last year, these are the key factors to stimulate the rapid growth of lightning network usage.
El Salvador, cash app assists blessing! The total volume of lightning network transactions increased by 410% annually
According to statistics, in August last year, only about 100000 users had the opportunity to use the lightning network for payment, but in March this year, the potential user base of the lightning network reached 80million. The report found that peer-to-peer (P2P) payments accounted for 50% of the total transactions of the lightning network; Cross border transfer accounts for about one third; The remaining 20% of transactions are daily consumption payments.