TL;DR: LN is doing nice, FUD solely, promote your ALTs!
Just lately varied alt-coiners began pointing to LN public channel capability lower as a “proof that LN is failing”. That is pure FUD and one thing that has ZERO impression on the community – clarification under.
What's LN capability:
LN is made up of private and non-private nodes.
To re-iterate: If you happen to go to http://1ml.com – you see solely PUBLIC nodes/channels/capability. This does NOT embrace any non-public channels (cellular apps). Capability offered by PUBLIC channels is beneficial to route funds trough community, so some capability is required, however how a lot?
It’s tough query to reply, however frankly LN doesn't want numerous capability in public channels, simply ENOUGH so that you can discover a path and make a cost. The extra nodes there are and extra capability is out there – the extra attainable routes/paths you should use for you funds which is nice for privateness, charges, and so on. However even when community capability would drop by 90% at the moment – it’s fairly probably no-one would discover as funds would "simply work".
So why latest capability drop?
Let’s begin why there was a surge in capability ranging from November 2018.
Giant a part of capability improve was because of @lnbig_com as this entity for couple of months was pouring lots of of BTC opening channels to EVERY public node on the LN community.
This in brief order took complete PUBLIC capability to over 1000 BTC. Actions of @lnbig_com undoubtedly helped with confidence that software program is able to deal with actual funds, routing larger funds, total community topology, discovering bugs and efficiency points associated to operating of huge nodes, and so on. I don’t have an actual numbers however I believe at the least 300BTC in LN is owned by LnBig at the moment, possibly extra.
I discussed that @lnbig_com opened a channel to EVERY node on the community. However numerous these nodes weren't saved alive, disappeared utterly or have been unused (not routing any funds). So not too long ago @lnbig_com began closing these inactive public channels – and that is the only motive why public capability goes down. See this for example: https://twitter.com/lnbig_com/status/1156574772324646915?s=20
So what's @lnbig_com doing with BTC that was freed? He/she determined to allocate these cash as incoming channels for each public and PRIVATE channels. It really works as observe:
So drop in capability doesn't imply drop in TX depend or LN adoption?
LN by it's design retains transactions non-public, so no-one is aware of what's the actual development or in any other case of transactions on the community. There may be nevertheless no direct relation between public capability and variety of transactions dealt with in LN. One of the simplest ways to evaluate LN adoption is to search for stories by bussinesses accepting LN funds. For instance this latest tweet: https://twitter.com/BtcpayServer/status/1156084772369776642?s=20
LN community arguably has at the moment far more public capability than wanted for me and also you to make on a regular basis funds.
Actual LN capability is way larger than what 1ml.com stories because of non-public channels – and not too long ago capability has been migrating to personal channels.
There may be actually nothing to see right here, use LN and revel in the one true P2P, immediate and personal funds within the crypto house.