04 Oct 2022
Lightning Network Public Capacity surpasses 5,000 BTCThe Lightning Network’s public capacity passed another milestone this week.
The combined capacity in public channels is now over 5,000 bitcoin for the first time. The final push above 5,000 was largely driven by River Financial and Loop by Lightning Labs expanding their channel capacity.Stablecoins are one step closer to Bitcoin and the Lightning Network.Earlier this year, Lightning Labs raised $70 million and announced its new project, The Taro Protocol.Taro will allow tokens to be issued on the Bitcoin Network, paving the way for stablecoin transactions with Bitcoin security. These Bitcoin-issued tokens can be used to open channels on the Lightning Network in similar fashion as with bitcoin. Only the starting and ending channel will need stablecoin liquidity with the Taro Protocol on the Lightning Network, meaning stablecoin transactions on Lightning can utilize the bitcoin liquidity of the Lightning Network for routing. Lightning Labs published the initial code for its Taro protocol last week, encouraging the community to explore and battle-test the new protocol. And importantly, Lightning service providers can start readying their applications for handling stablecoins issued through Taro in the future.