Bitstamp launches its own Lightning Network node

08 Jul, 2019
by David Robb
Bitstamp launches its own Lightning Network node

Leading crypto exchange Bitstamp has announced the launch of its own node on the Lightning Network. Retail traders can now use the LN to transfer BTC to and from the platform.

On its Lightning Network page, the Bitstamp team claims that it is "very excited about the Lightning Network. We believe this technology is the next step for Bitcoin and one of the payment systems of the future...By running our own Lightning Network node, we want to help the network grow and encourage other companies to start working with this amazing technology as well".

Bitstamp users with a LN node of their own can now connect directly to the exchange's node. The node currently has 166 other nodes connected up to it, and a total of 157 payment channels have been opened. The node's capacity is currently 7.955 BTC.

Lightning Network adoption has gradually been growing since the Bitcoin layer 2 payment protocol started to operate back in 2017. Some of the more high-profile and interesting adopters to open nodes include the popular Electrum wallet, as well as one bar based in Japan. The total capacity of the LN peaked in March at around 1100 BTC, although the month of June saw a significant drop in capacity, of around 13 percent. 

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Read more about: Bitstamp


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