Litecoin Lightning Network Exceeds 1,000 Channels.

Amid the rising prices in the crypto market which has seen Litecoin move up another 15% today reaching $52+, another important metric that is key to the long term scalability of the network is also growing. The Litecoin Lightning network has just hit 1,012 active channels between 161 participants.

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On average each node has ~6 connections to others on the network but it’s not necessarily a useful metric as these channels need funds in order to make the network usable. Fortunately it appears, according to data provided by that the networks capacity has also received a large bump up, in part due to rising prices, now sitting at over Ł137, roughly $7,300 as of writing, up an incredible 86% in the last month alone. This is a trend that does not appear to be stopping any time soon.

The largest node on the network is ‘freeside’ which appeared just last month and has a capacity of Ł26.6 (~$1,400) accounting for 1/5 of the network. ‘Freeside’ also accounts for 110 channels and appear to be positioning themselves early as a hub for relaying payments and according to other activity data activity ‘freeside’ appears to be US based. Closely following, is another new entry we covered not long ago, Bitrefill, a crypto service which allows users to buy gift cards and pay bills over lightning, who sit at Ł20.8 ($1,100) and 81 channels open.

We are now starting to see the emergence of more services joining the network alongside the likes of FutureBit, a mining manufacturer and LitoshisPlace, a take on reddit’s infamous /r/place.

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