BitInfoCharts has been processing between 250,000 and 200,000 transactions daily. Technological developments such as Segregated Witness, which was introduced in August 2017, make it possible to process more transactions. This is because a large portion of the transaction’s data has been segregated.
The Lightning Network (LN), bitcoin’s layer-two scaling solution has been helping it scale. 1ML data indicates that has over 557 BTC ($2.26 Million) in total capacity, and that it has more than 5,150 nodes and more than 18,500 open payment channels. LN transactions can’t be processed directly on the blockchain. However, this second-layer protocol reduces the amount of transactions that are made on-chain.
The layer-two scaling solution was not user-friendly at launch. As such, adoption has grown slowly but steadily. Some believe that its true potential is being realized as more user-friendly solutions become available. Developers have created a Lightning Network BTC wallet, which is said to be very easy to use.
