Lightning network capacity 600btc
coincola coying Cola
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how to use the three technical indicators to understand the rise and fall of bitcoin
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recently, "bitcoin broke through $8000" has been on the hot search. For a while, bitcoin rose, reborn rose sharply, and Ethereum led the rise... A week later, this big play dominated by bitcoin didn't seem to come to an end, and the trading volume was once pushed up to 100 billion US dollars
in the investment world, "madness" and "fear" coexist. Today's "madness" stems from last year's long-term "fear". However, this time, coincola Cola Research Institute tracks and analyzes the technical indicators behind the rising market, and deconstructs the "passion" of the market with the "rationality" of data< (1) mining and bitcoin price
start with the relationship between mining and bitcoin. The core technology of bitcoin is "blockchain", which is connected by blocks. Each block corresponds to a bill. All transaction information and transfer records of bitcoin are recorded on the blockchain. Every other point in time, the bitcoin system will generate a random code on the system node. Due to distributed accounting, all computers on the Internet can search for the code. Whoever finds the code will generate a block and then get bitcoin. This process is mining. Calculating this random code requires a lot of GPU operations, so miners need to use mining machines with massive graphics cards to make profits
1. Bitcoin computing power: starting to pick up
remarks: June 2018-may 2019 bitcoin hash value
data source: bitcoin visual, coincola Research Institute
the above figure shows the bitcoin hash value. The hash value of the bitcoin network represents the computing power of the blockchain. The growth of computing power means that miners increase mining investment or increase the number of miners. Since the second half of 2018, the hash value has recovered from falling back to picking up, from 32eh / s at the end of the year to 50eh / s now, and the recent growth trend is remarkable. The continuous growth of bitcoin hash value (representing computing power) indicates that the market is optimistic about the future of bitcoin
2. Mining difficulty: stepped up
remarks: bitcoin difficulty from June 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the figure above shows bitcoin difficulty. Since 2019, the difficulty of bitcoin mining has increased in a step-by-step manner, from the low 5T to the current 7T. It can be seen that the rapid rise of bitcoin in this round has reced mining costs and increased market entry personnel. The increasing difficulty of mining means that there are profit opportunities in cryptocurrency market, and the market is generally optimistic< (2) the number of active addresses and transactions on the chain are important indicators reflecting the activity of cryptocurrency, which are highly correlated with the price of cryptocurrency
1. The number of active addresses on the bitcoin chain: a straight line rise
remarks: the number of active addresses on the bitcoin chain from June 2018 to may 2019
data source: coinmetrics, coincola Research Institute
active addresses refer to the addresses where transactions have taken place every day, that is, how many independent addresses conct transfer transactions on the chain every day. Since 2019, the number of active addresses on the bitcoin chain has been rising, especially in recent years. From 540.60143k in January to 832.592k now. It shows that the rapid growth of active users of cryptocurrency is a very positive signal for the market
2. The number of transactions on the bitcoin chain: continued to rise
remarks: the number of transactions on the bitcoin chain from June 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
since 2019, the number of transactions on the bitcoin chain has continued to rise, from 235k in early 2019 to 374k now. Moreover, since April and may, after two rounds of sharp rise in the price of bitcoin, the number of transactions on the chain has remained at a high level, even showing signs of a short-term surge< (3) lightning network and bitcoin price
in essence, lightning network adds a layer to the basic layer of bitcoin blockchain in order to make the transaction fast and cheap. With the existence of lightning network, users can remit money to each other at any time and pay very little. Lightning network represents not only the technical level of bitcoin, but also the important basis of bitcoin value
1. Lightning network nodes: rapid growth
remarks: bitcoin lightning network nodes from January 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
the test version of lightning network started on the bitcoin main network on March 15, 2018. The number of lightning network nodes was only 64 at the beginning of 2018 and increased to 2329 at the end of 2018. Since 2019, the number of lightning network nodes has increased rapidly, and now it has reached 4289. In less than half a year, the number of nodes has doubled. The continuous expansion of nodes indicates the continuous upgrading and development of bitcoin lightning network technology, which is an important indicator of bitcoin price
2. Lightning network capacity: speed up
remarks: bitcoin lightning network capacity from January 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the data above shows that as of May 15, 2019, bitcoin lightning network capacity has increased to 1039 BTC, equivalent to 833usd, while at the beginning of 2019, it is only 504btc, Lightning network capacity doubled, and the growth rate accelerated. This means that the expansion of bitcoin has been well solved in lightning network technology, which will help keep the payment channel active and effectively support the functional application of bitcoin
the performance of mining, chain trading and lightning network is closely related to the price of bitcoin. On the one hand, the rise of bitcoin price acts as a catalyst to stimulate its performance in mining, chain and lightning network; On the other hand, mining, chain trading and lightning network are the important cornerstone of bitcoin price trend and the important basis of bitcoin price expectation<
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According to 1ml data, the current number of bitcoin lightning network nodes has reached 18061, an increase of 7.30% in the past 30 days; The number of channels was 40065, which increased by 5.9% in the past 30 days; Network capacity reached 1154 BTCs, an increase of 6% in the past 30 days
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To be honest, I had the same problem with the subject at the beginning. When I saw the news, I was a little confused and went to search. As a result, when I searched for lightning bitcoin or lightning bitcoin, either lightning network or bitcoin came out... This name is quite poisonous
Let's get down to business. Let's draw a conclusion first. It's not a thing at allmany people have talked about what lightning network is. You can look at other people's answers to get a deeper understanding of its mechanism, or you can go to the official website with better English to see their papers directly http://lightning.network/ . Lightning bitcoin official website in Chinese, save the trouble of translation https://lbtc.io/ . The origins of the two lightning bolts are very similar. They both hope to solve the problem of bitcoin network congestion. One is to carry the protocol, and the other is to change the fork to consensus. The results of the two lightning bolts are also good. The transaction speed is greatly improved, which can be regarded as real-time. The following table directly shows the similarities and differences between the two:
as can be seen from the above, the differences between the two are relatively large, and should not be confused any more~
Lightning network is known as one of the most effective cryptocurrency expansion solutions currently being developed. The scheme was proposed in 2015, based on a network at the top of bitcoin blockchain, and finally implemented on the network. The network consists of user generated channels that send payments back and forth in a secure and untrusted manner
For example, suppose I want to pay for every minute I watch. We're going to open up a lightning channel, and as time goes on, we're going to make regular payments from my wallet to the video makers. When I finish, we will close the channel to settle the net balance on the bitcoin blockchain. Because transactions are only between me and the other party and do not need to be broadcast to the whole network, they are almost instantaneous. And because there is no incentive for miners, the transaction cost is low, or even no transaction cost at all
It has been ten years since bitcoin was born. Ten years ago, if someone had told his founder, Tsui Nakamoto, that this new decentralized currency would flourish in 2019, he might have thought his experiment was a success. Bitcoin is indeed likely to become a world currency. Even if it is not as magical as Nakamoto said, even today, 10 years later, there are still people criticizing the ideas in its white paper
Although bitcoin has become a widely used investment and speculative asset, e to its own design and huge demand, bitcoin is far away from its goal of completely decentralized free currency. But if the new solution does solve some of the existing problems, then its status quo will certainly be greatly improved< as long as the transaction cost of bitcoin blockchain is not higher than lightning network, users will not transfer assets to other public chains. If bitcoin blockchain can continue to expand the transaction processing capacity through other solutions besides lightning network in the future, it may eventually develop into the world currency originally conceived by NakamotoIn February 2015, bitcoin developers Joseph PON and Thaddeus dryja proposed the concept of scalable off chain payment -- Lightning network in their paper the bitcoin lightning network: scalable off chain instant payments. We know that a very important reason why the bitcoin network is reliable is that all the bitcoin nodes keep the bitcoin account books. If someone wants to tamper with the transaction records, they need more than half of the computing power of the whole network. Without the trust machine of blockchain network, how can we ensure that both sides of the transaction will not go back and deny? How is lightning network realized
in short, the lightning network is based on the expansion of bitcoin. Due to the limitation of bitcoin block, a new channel is required. The process of small amount delivery can be realized through the channel of lightning network without bitcoin miner accounting, which can speed up the speed and rece the handling charge. But how can such lightning network prevent the centralization problem? More details this video is very detailed: six minutes to understand the lightning network
but how long can the lightning network land
the main idea of lightning network is very simple: put a large number of transactions outside the bitcoin blockchain
RSMC guarantees that the direct transaction between two people can be completed under the chain, while HTLC guarantees that the transfer between any two people can be completed through a & quot; Payment & quot; Channel. By integrating these two mechanisms, the transaction between any two people can be completed under the chain
in the whole transaction, smart contract plays an important role as an intermediary, while blockchain ensures that the final transaction result is confirmed.
bchc, launched by bitcherry, is a token within the Distributed E-Commerce ecosystem.
the working principle of lightning network is to create an interweaved network composed of two payment channels. Basically, it's a trade between two people. However, by creating a network in which all channels are interconnected, you can route payments through multiple channels. If you want to send payment to anyone in the network, you can credit the account directly connected with yourself (deposit money to the account) in your Lightning network channel, and then the account can credit the account connected with yourself (the amount is the same, so there is no actual change in value). This process continues, Until you pass it on to the participant you actually want to trade, he will receive the money
therefore, technically, you are only trading with an account directly associated with the payment channel where your funds were originally sent. So, every routing connection between you and the ultimate payee is made up of two participants who simply trade with each other, each of whom accounts for each other - a series of double entry paths. Lightning network is a network composed of double entry accounting channels of two participants, so there is no bottleneck in transaction throughput.