pull down to refresh

2 sats \ 1 reply \ @abetusk 25 Aug 2021 \ on: Estimating Lightning Network saves 250 transactions per block bitcoin
So, considering there are on average 3 BTC transactions per second on chain (src), this means that the lightning network is adding about 0.42 transactions per second (250 (off-chain updates / BTC block update) / (60 (s/min) * 10 (min/BTC block update)).
That may not seem much but that's already a %14 increase in transaction throughput and I imagine it's only just starting.
For some context:
Average BTC transactions per second3src
Average / Median BTC transaction amount$197k / $760src
Average / Median Volume BTC per second$591k/s / $2.28k/s($197k*3(tx/s)) / ($760*3(tx/s))
Average Visa transactions per second1700src
Average Visa transaction amount$80src
Average Volume Visa per second$136k/s($80 * 1700 (tx/s))
I find it pretty surprising that there are only around 12k bitcoin nodes (src) but around 25k lightning nodes (src). This means that most people use some off-site bitcoin node to have their lightning node talk to it?
write
preview
2 sats \ 0 replies \ @nout OP 26 Aug 2021
I think there is some chance that there are actually 1000 LN transactions every 10 minutes, since we don't really have numbers on the different gaming platforms and Sphinx and Strike, etc. So that would be 1.6tx/s, or 50% increase in throughput.
reply