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On Wednesday (October 6), Arcane Research, the research division of European crypto-focused investment firm Arcane Crypto, provided an interesting comprehensive overview of the Bitcoin Lightning Network in its latest report (which was sponsored by Bitcoin payment processor OpenNode).
According to Arcane Crypto’s press release, Bendik Norheim Schei, the Head of Arcane Research, offered this comment:
This has definitely been the most exciting report to write since we established Arcane Research two years ago. 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.”
Elizabeth Stark, CEO of Lightning Labs, had this to say:
“Arcane’s ‘The State of Lightning’ highlights how the Lightning community has been making bitcoin more accessible to people around the world. We are just hitting an inflection point, but we’re still at the very beginning of the curve. We believe in solving real problems for real people, and are at the cusp of bringing bitcoin to billions with Lightning. In other words, number of people go up.“
And João Almeida, CTO and Co-Founder of OpenNode, stated:
“We’re excited about the growth demonstrated by the Lightning Network in recent months and proud to support high quality Bitcoin and Lightning research reporting from Arcane Research. Lightning Network participants are seeing the network effects that have supported Bitcoin growth, and are well placed to bring their data together to qualify and quantify progress. With scalability provided by Lightning, and the regulatory clarity of Bitcoin the asset, Bitcoin clearly becomes the best way to hold and transfer value. Moving forward, we see LN payments adoption accelerating, spurred by Bitcoin adoption and a growing global Bitcoin economy.“
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Image Credit
Image by “FelixMittermeier” via Pixabay