Rapid Expansion of Binance’s Lightning Network Makes It the Fourteenth Largest Node
As a result of this increase, Binance is now ranked 14th among all Lightning Network capacities.
Notable Chinese journalist Colin Wu has reported on some significant updates involving Binance and the Bitcoin Lightning Network.
Notably, Binance’s status in the Bitcoin Lightning Network ecosystem has been boosted by this increase in capacity. As of right now, Binance is the fourteenth biggest Lightning Network node by capacity. There are a maximum of 4,859.37 BTC available on the network.
This shows Binance’s dedication to and confidence in the Lightning Network. This further establishes its significance in facilitating the growth of the layer-2 scaling solution for Bitcoin trades.
Meanwhile, new information from Amboss Space helped put this expansion into perspective. Overall, there are 17,949 nodes and 73,359 channels in the network. Sizes of channels might be anything from 14 bitcoins and 1,100 satoshis. It has a median value of 2,000,000 satoshis and an average value of 6,636,778 satoshis. The transaction charge per virtual byte is 11 satoshis.
Amboss Space data provided insights into Binance’s growth indicators. Binance can now hold a whopping 7,773,000,000 satoshis in total. This is a boost of 69%. Binance’s original number of channels has increased by 175% to a total of 33.
In addition, the biggest channel can handle one billion satoshis, while the smallest can only handle sixteen million. The median channel size is 200,000,000 satoshis, with an average size of 235,545,455 satoshis.