Lightning Network ranks first among Bitcoin expansion plans with nearly $200 million in TVL
On November 28th, The Block Pro posted that there have been various attempts to achieve Bitcoin scalability. The Lightning Network is the largest scalability solution for Bitcoin, with a TVL of nearly $200 million by 2023, mainly due to the rise in Bitcoin prices.
Other Bitcoin scalability solutions (such as DeFiChain, Rootstock, and Stacks) have lower TVL than the Lightning Network, possibly due to security trade-offs, as they only inherit part of Bitcoin's security.
In addition, Bitcoin Ordinals assigns unique identifiers to satoshis, making them NFTs, and uses SegWit and Taproot upgrades to mint homogenized BRC-20 tokens. These innovations from the SegWit and Taproot upgrades demonstrate Bitcoin's potential in areas such as Layer 2 in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Evaluating Probability of Ethereum Breaching the $4K Milestone Soon
Ethereum's Potential Bull Run Versus Existing Downward Forces: The Battle for the $4K Mark
What Stage of the Bitcoin Bull are We in? Are We Nearing The End Or Are We Just Getting Started?
Which stage of the bull run are we in in Bitcoin, the world's largest cryptocurrency? Are we nearing the end of the bull run? Here is the analyst forecast.
IOTA Rebased Testnet Onboards Trusted Validators Securing Billions in Assets
NEAR Protocol Supports Web3 AI With New $20M Development Fund
Trending news
MoreCrypto prices
More
