May 13, 2021

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OpenNode: Lightning network in data

2 min read
OpenNode: Lightning network in data

João Almeida from the OpenNode project gave a presentation at the MIT Expo weekend about lightning network usage in applications and e-shops.

 

OpenNode provides a bitcoin payment gateway for merchants, one of the solutions offered is processing of payments through the Lightning Network – currently OpenNode has 822 open channels.

 

 

The most interesting points of the lecture:

 

  • OpenNode has processed over 120,000 Lightning transactions since 11/2018. However, Lightning represents only about 1% of the amount of bitcoin transactions that OpenNode processes
  • Over time, the average value of LN transactions increases; about 5% are worth over $ 20
  • The largest percentage of LN transactions is from custodial wallets (Blue wallet, Wallet of Satoshi)
  • OpenNode routed (ie received and forwarded) over 9,000 LN transactions totaling 30 BTC

 

Final slide of the lecture.

 

In addition, OpenNode also runs so-called Wumbo channels, which can handle large volumes of BTC, and experiment with optimal routing charges.

 

Summary

 

OpenNode is recommended to watch, along with projects like Strike it is a total bleeding edge in the use of Lightning Network!

 

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