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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!

 

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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