Arcane Research, the research division of crypto investment firm Arcane Crypto released a new report today on the complete overview of the state of Bitcoin Lightning Network, estimating that the ecosystem will see 700 million users by 2030.
<h2><strong> Lightning Network Will Have 700 Million Users by 2030</strong></h2>
On Oct. 5, Arcane Research <a href="https://static1.squarespace.com/static/60377b34e7791c1277aaae97/t/615c8c51112a660b881752f0/1633455194489/The+State+of+Lightning.pdf" target="_blank" rel="nofollow noopener">published</a> a report titled “The State of Lightning” to provide “the most comprehensive overview of usage on the Lightning Network seen to date” in terms of current capacity, the wallet payment volume, the growing rate of adoption, and the switch from online services to everyday usage.

The report forecasts 700 million users in these categories by 2030, assuming there will be one micro-transaction per second, estimating no less than 364 trillion Lightning transactions per year.

The study was conducted in collaboration with Bitcoin payments company OpenNode highlighting that Lightning usage is actually growing faster than the public metrics show amid the total channel capacity and the number of nodes shows that the Lightning Network is growing rapidly.

Bendik Norheim Schei, the Head of Arcane Research, said:
<blockquote><em>“The team has been speaking to founders and developers all over the world, gathering information and data, to be able to understand the exponential growth we’re currently seeing within the Lightning Network. We’re still early, but we’re now finally seeing real adoption and growth after several years of testing and developer-driven growth. They’ve made way for the current adoption, and to make bitcoin an instant, cheap and accessible medium of exchange, all over the world.”</em></blockquote>
<h2><strong>Bitcoin Lightning Network Continues to Grow</strong></h2>
Launched in 2018, the usage growth of Bitcoin Lightning Network picked up significantly in late 2020 with a meteoric rise in September 2021 as a result of <a href="https://www.cryptoknowmics.com/news/el-salvadors-president-declares-the-start-of-volcano-powered-bitcoin-mining/">El Salvador</a>’s introduction of bitcoin as legal tender, fuelled by others enabling Lightning payments, including <a href="https://www.cryptoknowmics.com/news/paxful-will-fund-qala-fellowship-to-help-nigerian-crypto-developers/">Paxful</a> and Twitter.

Since its launch Bitcoin Lighting, the network has grown to hold a capacity of almost 3,000 BTC, with 17,000 nodes operating on the network and 73,700 unique channels.

Bitcoin Lightning Network Will Have 700M Users by 2030: Arcane Research

Arcane Research released a new report today on the complete overview of the state of Bitcoin Lightning Network, estimating 700 million users by 2030.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Bitcoin Lightning Network Will Have 700M Users by 2030: Arcane Research

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