Bitcoin’s Lightning Network Could Hit 700M Users by 2030, Report Shows

·1 min read

BeInCrypto –

Arcane Research predicts that the number of Lightning Network users could cross 700 million by 2030. Remittance, gaming, and streaming use cases will help lift the scaling solution to that figure.

Layer 2 scaling solution, the Lightning Network, is expected to hit over 700 million users by 2030, according to estimates from some experts. The research division of Arcane Crypto published The State of Lightning report early in Oct., which details developments related to the use of scaling solution Lightning Network.

Growth in payment volume (USD) from wallets on the Lightning Network: Arcane Research

The report begins commenting on Lightning’s usage has picked up significantly since the start of 2020, with public metrics belying the actual growth, which is much higher. For example, wallet payment volume grew by 20% monthly with every month this year. More importantly, the actual usage is now beginning to stem largely from everyday use as opposed to online services.

This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto