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
Data blockchain Flare connects to over 70 blockchains via LayerZero integration
Quick Take The move allows Flare to access Layer 1 networks such as Ethereum and Solana, in addition to over 70 other blockchains.
Consensys acquires Wallet Guard to help protect MetaMask users against hacks and scams
Quick Take Consensys has acquired Wallet Guard to help bolster MetaMask’s security. The entire Wallet Guard team will join Consensys as part of the deal.
