Brided Bitcoin on Avalanche exceeds the value blocked in Lightning Network -
Brided Bitcoin on Avalanche exceeds the value blocked in Lightning Network -
Members of the crypto community have discussed the number of bitcoins that were bridged to the Avalanche network, which is now larger than the total value that is blocked in the Lightning network. At the time of writing, 5,493 bitcoins circulate on the Avalanche Blockchain, while the Lightning Network holds 5.248 bitcoins.
Number of Bitcoin Brided to Avalanche Climbs beyond the capacity of the Lightning network
Last week supporters have the increasing number of Bitcoin ( bitcoin ) (Avalanche) bridged. Seven days ago the crypto-asset was known as btcb Lightning Network (LN) closed bitcoins exceeded. The reason for the celebrations is that it took much less time to beat the blocked total value (TVL) or the LN 5.248 Bitcoin tvl that is worth around 120 million US dollars Bitcoin prices.
a week ago, on January 16, an lawine (Avax) supporter named "ojrdev" tweeted about the number of bitcoins transferred to the AVAX chain. "Avalanche has transferred more [Bitcoin] (BTCB) than locked up [The] Lightning Network", Ojrdev tweeted . "In addition, the Avalanche consensus mechanism is faster than Lightning." Many other AVAX supporters bitcoin the number of Btcb, according to snowtrace.io is around 5,493 btcb, which is worth $ 125.5 million bitcoin Exchange courses.
In the same period, the largest number of tokenized bitcoins on each blockchain is the wrapped bitcoin project that the Ethereum blockchain network uses. Currently, according to the 179,697 WBTC in circulation WBTC-dashboard . There are also 52.88.86 btcb hosted on binance smart chain (BSC). The BSC's Bitcoin cache is larger than what is hosted on AVAX. However, the amount of BTCB is greater than the 3.564 btc on block streams liquid network and also greater than the 3.496 rbtc in the RSK network.
The number of tokenized bitcoins that are hosted on alternative blockchains, networks and sidechains was increasingly , but the speed accelerated as WBTC 2019 Started. The main goal was to speed up the final and to make transaction costs lower. In 2020, however, the fees on the Ethereum blockchain shot up. In mid-May 2021 on average eth fee was almost $ 40 per transaction .
As a result, tokenized bitcoins have passed into alternative blockchains alongside LN and Ethereum. The rise from BTCB to AVAX indicates that many crypto supporters value the use of a bound version of btc bitcoin Alternative chain. In the meantime, the large number of circulating WBTC has been hosted at Ethereum Blockchain declining in the last 12 months.What do you think about the rise of BTCB in the Avalanche network? Share your thoughts and opinions in the comments below.
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