Cryptocurrency & Blockchain Business

BITCOIN CASH GOES OUT OF FASHION

Last month saw Lightning mark its debut for mainnet Bitcoin use.

The first beta implementation in the form of Lightning Labs’ Lightning Daemon (lnd) was released to considerable acclaim, the startup also announcing a successful $2.5 million funding round, which included Twitter CEO Jack Dorsey.

Now, with over 1500 nodes, of which 1126 are public, the protocol has even surpassed the node count of the altcoin which states its purpose as doing LN’s job: Bitcoin Cash (BCH).

While continuing to tout itself as a cheaper, faster version of Bitcoin, data confirms BCH is now less prevalent than Bitcoin Lightning Network nodes.

At the same time, advances in SegWit adoption for Bitcoin have brought previously high fees down to a fraction of values seen just weeks ago. Many popular consumer wallets, such as Blockchain.info, were suggesting fees of just 2 satoshis per byte at press time April 1.

Meanwhile, advances in usability have yet to be reflected in market sentiment, BTC/USD trailing at under $6600 after once again failing to find support above $7000.

A look at the top ten cryptocurrencies by market cap provides for lackluster reading, altcoins broadly falling 50% further in the past 24 hours than Bitcoin’s 4.55%, while BCH fell twice as far (9.55%).

With the latest developments on Bitcoin second layer protocol is there space for BCH? Let us know in the comments below!

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Thanks to WILMA WOO

This article was adapted from a post by WILMA WOO on the Lightning Network.

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