Routing node operators for Bitcoin’s Lightning Network are preparing for a wave of new users as BTC enters a bull run.
Lightning Network (LN), which launched in 2018 as a solution for cheaper and real-time payments, is preparing for an uptick in usage following the most recent Bitcoin price rally.
According to a report by CoinDesk, LN developers are still concerned over bugs in the underlying protocol and call using it potentially “reckless” due to the chance of lost funds.
Tudor Iova, founder of BTCfractura and a Lightning routing node operator, told CoinDesk that creeping Bitcoin fees would drive more clients to the protocol:
“Higher bitcoin prices go hand in hand with higher transaction fees for on-chain payments.”
According to data compiled by BitInfoCharts, average Bitcoin fees are at their highest level in over two years, peaking at $13.10 on October 30.
In comparison, LN payments cost typically less than a cent and can take place in real-time once the more costly initial channel has been established.
Iova recommended users take advantage of the relatively cheaper channel setup fees on weekends and use LN transactions during the week to avoid high mining fees.
“We are preparing ourselves for a bull run by opening new channels and improving our Lightning node connectivity to other nodes.”
Speaking with CoinDesk, Bitfinex CTO Paolo Ardoino said LN was already capable of supporting thousands of new users. He called launching nodes and interconnecting them “not a very complex job” and predicted the wave of new users would lead to an overall strengthening of the network.
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